Basically, my homework is asking me to find the variance based on a frequency table. But the frequency table looks like this:
Frequency Table: Salary Number of Employees 5,001–10,000 8 employees 10,001–15,000 12 employees 15,001–20,000 20 employees 20,001–25,000 17 employees 25,001–30,000 13 employees
I know how to find the variance, I just don't know how to when the numbers are for example 5000k-1000k --it's not one number, it's a range of numbers.
Since the range is always 5000 units you could just use the mean of the two boundaries of each category and compute the variance with these values. I assume there is no additional information given? (sorry, can't comment yet, hence my post as an answer)