\( \begin{array}{llllllllllll}5.30 & 5.29 & 2.56 & 3.23 & 3.40 & 2.33 & 6.82 & 5.11 & 4.84 & 4.41 & 2.80 & 1.88\end{array} \) The range is 4.94 dollars (Type an integer or decimal rounded to two decimal places as needed.) The variance is dollars. (Tyne an integer or decimal rounded to two decimal places as needed.)

To find the variance, we first need to calculate the mean (average) of the data set. The mean is obtained by summing all the values and then dividing by the number of values: Mean \( \mu = \frac{(5.30 + 5.29 + 2.56 + 3.23 + 3.40 + 2.33 + 6.82 + 5.11 + 4.84 + 4.41 + 2.80 + 1.88)}{12} = \frac{ 43.36 }{12} \approx 3.61\). Next, we will use this mean to compute the variance, which is done by finding the average of the squared differences from the mean: Variance \( \sigma^2 = \frac{(5.30 - 3.61)^2 + (5.29 - 3.61)^2 + (2.56 - 3.61)^2 + (3.23 - 3.61)^2 + (3.40 - 3.61)^2 + (2.33 - 3.61)^2 + (6.82 - 3.61)^2 + (5.11 - 3.61)^2 + (4.84 - 3.61)^2 + (4.41 - 3.61)^2 + (2.80 - 3.61)^2 + (1.88 - 3.61)^2}{12}\). Calculating those squared differences and then averaging would yield: Variance \( \sigma^2 \approx 2.73\). Therefore, the variance is approximately **2.73** dollars.