Attempt following question by selecting a choice to answer.
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The average age of technicians at B & T company is 26 years, with a standard deviation of 6 years. The average salary of the technicians is $31,000 with a standard deviation of $4000. Is the variation in the salary of technicians more than the variation in their age ?
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Step 1: Coefficient of variation of the age of technicians = 626 · 100%= 23.08%[C.V = Standard deviationMean · 100%.]
Step 2: Coefficient of variation of the salary of technicians = 400031000 · 100% = 12.9%
Step 3: Since the coefficient of the variation is larger for the age of the technicians, the variation in the age is more than the variation in salary.