Math Problem Statement

Age Lower Limit Upper Limit Number (millions)

25-34 25 34 25600000

35-44 35 44 30200000

45-54 45 54 38400000

55-64 55 64 24500000 The following data represent the number of people aged 25 to 64 years covered by health insurance​ (private or​ government) in 2018. Approximate the mean and corrected standard deviation for age.

Solution

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Math Problem Analysis

Mathematical Concepts

Statistics
Grouped Data Analysis
Measures of Central Tendency
Measures of Dispersion

Formulas

Mean (\overline{x}) = \frac{\sum (x_i \cdot f_i)}{\sum f_i}
Corrected Standard Deviation (s) = \sqrt{\frac{\sum (x_i^2 \cdot f_i) - \left(\frac{\sum (x_i \cdot f_i)}{\sum f_i}\right)^2 \cdot \sum f_i}{\sum f_i - 1}}

Theorems

Central Limit Theorem (underlying statistical concept)
Corrected standard deviation formula for sample data

Suitable Grade Level

Grades 11-12, College Level