Below are the range and standard deviation for a set of data. Use the range rule

Question

Below are the range and standard deviation for a set of data. Use the range rule of thumb and compare it to the standard deviation listed below. Does the range rule of thumb produce an acceptable approximation? Suppose a researcher deems the approximation as acceptable it has an error less than 15% Range = 2.94 Standard Deviation = 0.853 The estimated standard deviation is (Round to three decimal places as needed) Is this an acceptable approximation? A. No, because the error of the range rule of thumb's approximation is less than 15% B. Yes, because the error of the range rule of thumb's approximation is greater than 15% C. No, because the error of the range rule of thumb's approximation is less than 15% D. No, because the error of the range rule of thumb's approximation is greater than 15%

Explanation / Answer

By using the range of thumb rule, the estimated standard deviation = range/4 = 2.94/4 = 0.753

So Option-C is the correct answer.

  

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