Answer:
3.14 thousand dollars
Step-by-step explanation:
Standard deviation is the average distance of your data values from the mean (basically, how far off you were from the center). We calculate standard deviation or σ by taking each value, subtracting it from the mean, squaring it, then dividing by the mean.
First, we need to find the mean, which is the sum of all values / number of values.
5 + 6 + 5 + 10 + 9 = 35 / 5 = 7
Take the absolute value of the difference of each value from 7:
5 - 7 = 2
6 - 7 = 1
5 - 7 = 2
10 - 7 = 3
9 - 7 = 2
Square each of these values and add them together:
2^2 + 1^2 + 2^2 + 3^2 + 2^2 = 22
Divide the sum by the mean:
22 / 7 = 3.14
The standard deviation is 3.14 thousand dollars.
