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A statistics instructor asks each student in his classes to report how much the student spent on textbooks for the semester.  The figures reported by students are shown below. 725 735 555 420 385 480 505 270 405 285 585 450 515 560 500 395 545 595 365 455 505 345 555 485 560 475 520 455 355 590 550 495 505 505 495 465 370 355 480 385 515 605 480 410 485 560 475 350 465 435 455 380 320 535 565 520 510 495 485 650 490 295 555 540 565 490 570 380 610 600 390 375 390 335 525 445 540 490 485 555 440 560 405 590 520 470 560 510 340 385 585 635 415 455 590 385 505 510 545

A statistics instructor asks each student in his classes to report how much the student spent on textbooks for the semester.  The figures reported by students are shown below. 725 735 555 420 385 480 505 270 405 285 585 450 515 560 500 395 545 595 365 455 505 345 555 485 560 475 520 455 355 590 550 495 505 505 495 465 370 355 480 385 515 605 480 410 485 560 475 350 465 435 455 380 320 535 565 520 510 495 485 650 490 295 555 540 565 490 570 380 610 600 390 375 390 335 525 445 540 490 485 555 440 560 405 590 520 470 560 510 340 385 585 635 415 455 590 385 505 510 545

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A statistics instructor asks each student in his classes to report how much the student spent on textbooks for the semester.  The figures reported by students are shown below.
725 735 555 420 385 480 505 270 405
285 585 450 515 560 500 395 545 595
365 455 505 345 555 485 560 475 520
455 355 590 550 495 505 505 495 465
370 355 480 385 515 605 480 410 485
560 475 350 465 435 455 380 320 535
565 520 510 495 485 650 490 295 555
540 565 490 570 380 610 600 390 375
390 335 525 445 540 490 485 555 440
560 405 590 520 470 560 510 340 385
585 635 415 455 590 385 505 510 545
405 470 560 495 515 495 595 565 615
470 680 465 470 310 470 505 465 375
360 650 460 560 500 375 500 370 415
490 440 470 525 535 640 385 475 425
595 505 365 485 495 390 380 585 690

 

Treat the data above as POPULATION data.

1 The mean expenditure on textbooks by all students is:
a $485.38        
b $495.29        
c $505.40        
d $515.71        

 

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