College Costs. The mean undergraduate cost for tuition and fees for four-year institutions was P 26,489 for a recent academic year. Suppose that SD is ? P3204 and that 36 four-year institutions are randomly selected. a. Find the probability that the sample mean cost for these 36 schools is less than P25,000. b. Find the probability that the sample mean cost for these 36 schools is greater than P26,000 c. Find the probability that the sample mean cost for these 36 schools is between P24,000 and P26,000
College Costs. The mean undergraduate cost for tuition and fees for four-year institutions was P 26,489 for a recent academic year. Suppose that SD is ? P3204 and that 36 four-year institutions are randomly selected. a. Find the probability that the sample mean cost for these 36 schools is less than P25,000. b. Find the probability that the sample mean cost for these 36 schools is greater than P26,000 c. Find the probability that the sample mean cost for these 36 schools is between P24,000 and P26,000
College Costs. The mean undergraduate cost for tuition and fees for four-year institutions was P 26,489 for a recent academic year. Suppose that SD is ? P3204 and that 36 four-year institutions are randomly selected. a. Find the probability that the sample mean cost for these 36 schools is less than P25,000. b. Find the probability that the sample mean cost for these 36 schools is greater than P26,000 c. Find the probability that the sample mean cost for these 36 schools is between P24,000 and P26,000
College Costs. The mean undergraduate cost for tuition and fees for four-year institutions was P 26,489 for a recent academic year. Suppose that SD is ? P3204 and that 36 four-year institutions are randomly selected. a. Find the probability that the sample mean cost for these 36 schools is less than P25,000.
b. Find the probability that the sample mean cost for these 36 schools is greater than P26,000
c. Find the probability that the sample mean cost for these 36 schools is between P24,000 and P26,000
Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...
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