Compute the sample mean and sample standard deviation for private and public colleges. Round your answers to two decimal places.
1 answer:
Answer:
(1) The sample mean is = 6.98, the standard deviation is = 4.53 (2) The pint estimate difference is = 20.2 (3) The confidence interval limits are $ 15943.6 and $24456.4
Step-by-step explanation:
Solution
(A) The first step is to compute the mean sample and the standard deviation for private and public colleges.
Thus,
The mean and private colleges is computed as follows:
The mean and private colleges = The sum of derivation/The total number of observation
x= 42.5
The standard deviation is S₁ = 6.9806 = √∈ (xi - x)²/n-1
The mean of public colleges y =22.3
Standard deviation S₂ = 4.5323 = √∈ (yi - y)²/n-1
Thus,
S₁ = 6.98
S₂ =4.53
(b) We find the point estimate of the difference between two population means
Thus,
x -y = 42.5 -22.3
=20.2
Therefore, the annual cost is =$20,200
Note: Kindly find an attached copy of the option c and the complete question stated above.
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Answer:
μ ≈ 2.33
σ ≈ 1.25
Step-by-step explanation:
Each person has equal probability of ⅓.
The mean is the expected value:
μ = E(X) = ∑ X P(X)
μ = (1) (⅓) + (2) (⅓) + (4) (⅓)
μ = ⁷/₃
The standard deviation is:
σ² = ∑ (X−μ)² P(X)
σ² = (1 − ⁷/₃)² (⅓) + (2 − ⁷/₃)² (⅓) + (4 − ⁷/₃)² (⅓)
σ² = ¹⁴/₉
σ ≈ 1.25