Question: The branch manager for the D. L. Evens Bank has been asked to prepare a presentation for next week's board meeting. At the presentation, she will discuss the status of her branch's loans issued for recreation vehicles (RVs). In particular, she will analyze the loan balances for a sample of 10 RV loans. The following data were collected:
$11,509 $8,088 $13,415 $17,028 $16,754
$18,626 $4,917 $11,740 $16,393 $8,757
a. Compute the mean loan balance.
b. Compute the loan balance standard deviation.
c. Write a one-paragraph statement that uses the statistics computed in parts a and b to describe the RV loan data at the branch.