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Sedaia [141]
3 years ago
7

A simple random sample of months of sales data provided the following information: Month Units Sold a. Develop a point estimate

of the population mean number of units sold per month. b. Develop a point estimate of the population standard deviation (to 2 decimals).
Mathematics
1 answer:
Gnom [1K]3 years ago
3 0

Answer:

a) X[bar]=93

b)S=5.39

Step-by-step explanation:

Hello!

<em>A simple random sample of 5 months of sales data provided the following information: Month: 1 2 3 4 5 Units Sold: 94 100 85 94 92 </em>

<em />

<em>a. Develop a point estimate of the population mean number of units sold per month. </em>

The variable of interest is:

X: Number of sales per month.

A random sample of n=5 months was taken, for each month, the number of units sold was recorded. To calculate the mean of the sample you have to add all the observed frequencies (Units Sold) by the sample size (n)

X[bar]= ∑X/n= 465/5=93

You can say that, on average, 93 units were sold over the 5-month period.

<em>b. Develop a point estimate of the population standard deviation.</em>

To calculate the sample standard deviation you have to calculate the variance and then its square root:

S^2= \frac{1}{n-1}[sumX^2-\frac{(sumX)^2}{n} ]

∑X= 465

∑X²= 43361

S^2= \frac{1}{4}[43361-\frac{(465)^2}{5} ]= 29

S= √29= 5.385≅ 5.39

I hope this helps!

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The table lists the speeds of the fastest roller coasters in North America and Asia.
kotykmax [81]

The difference of the means of the two data sets is = 4.57

The mean absolute deviation of the roller coaster speeds in North America is 13.3

The mean absolute deviation of the roller coaster speeds in Asia is 16.8

<h3>How to solve for the means</h3>

First we have to start with the data for North America

128, 120, 100, 93, 92, 80.8, 85, 82, 80, 77

To get the mean you have to sum up the values and divide through by the total number 10

937.8/10

Mean = 93.78

Mean Absolute Deviation  = (128 - 93.78) + ( 120 - 93.78) + ( 100 - 93.78) + ( 93 - 93.78) + ( 92 - 93.78) + ( 80.8 - 93.78) + ( 85 - 93.78) + ( 82 - 93.78) + ( 80 - 93.78) + ( 77 - 93.78) / 10

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For Asia, we have the data as

149.1, 106.9, 95, 83, 90, 80.3, 78.3, 71.5, 69.6, 68.4

Mean for Asia = 892.1/10

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Mean Absolute Deviation = (149.1 - 89.21) + ( 106.9 - 89.21) + ( 95 - 89.21) + ( 83 - 89.21) + ( 90 - 89.21) + ( 80.3 - 89.21) + ( 78.3 - 89.21) + ( 71.5 - 89.21) + ( 69.6 - 89.21) + ( 68.4 - 89.21) / 10

= 168.32/10

16.8

The difference in the means = 93.78 -89.21

=  4.57

Read more on means here

brainly.com/question/12172431

#SPJ1

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