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Make an educated guess of whether the sample mean and sample standard deviation for the 14 observations would increase, decrease or remain roughly the same compared to your answer in part (c) based on only 7 observations. How actually calculate the sample mean standard deviation to see if you were right. How does your calculation compare to your educated guess? Why does your calculation compare to your educated guess? Why do you think this is?

Make an educated guess of whether the sample mean and sample standard deviation for the 14 observations would increase, decrease or remain roughly the same compared to your answer in part (c) based on only 7 observations. How actually calculate the sample mean standard deviation to see if you were right. How does your calculation compare to your educated guess? Why does your calculation compare to your educated guess? Why do you think this is?

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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Make an educated guess of whether the sample mean and sample standard deviation for the 14 observations would increase, decrease or remain roughly the same compared to your answer in part (c) based on only 7 observations. How actually calculate the sample mean standard deviation to see if you were right. How does your calculation compare to your educated guess? Why does your calculation compare to your educated guess? Why do you think this is?
Transcribed Image Text:Make an educated guess of whether the sample mean and sample standard deviation for the 14 observations would increase, decrease or remain roughly the same compared to your answer in part (c) based on only 7 observations. How actually calculate the sample mean standard deviation to see if you were right. How does your calculation compare to your educated guess? Why does your calculation compare to your educated guess? Why do you think this is?
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