The accompanying data contains the monthly retail sales ($millions) of a large country's women's clothing stores for 70 months. A sample taken from this population to estimate the average sales in this time period is shown below. Complete parts a through d below. 3,169 2,850 2,861 2,496 2,581 2,371 2,430 2,756 3,088 2,657 2,367 2,923 2,400 3,197 2,480 2,459 2,402 3,126 2,994 2,420 2,801 2,939 3,115 3,193 3,149 Click here to view the population data. a. Calculate the population mean. The population mean is million dollars. (Round to two decimal places as needed.) b. Calculate the sample mean. The sample mean is million dollars. (Round to two decimal places as needed.) c. How much sampling error is present in this sample? The sampling error is million dollars. (Round to two decimal places as needed.)
The accompanying data contains the monthly retail sales ($millions) of a large country's women's clothing stores for 70 months. A sample taken from this population to estimate the average sales in this time period is shown below. Complete parts a through d below. 3,169 2,850 2,861 2,496 2,581 2,371 2,430 2,756 3,088 2,657 2,367 2,923 2,400 3,197 2,480 2,459 2,402 3,126 2,994 2,420 2,801 2,939 3,115 3,193 3,149 Click here to view the population data. a. Calculate the population mean. The population mean is million dollars. (Round to two decimal places as needed.) b. Calculate the sample mean. The sample mean is million dollars. (Round to two decimal places as needed.) c. How much sampling error is present in this sample? The sampling error is million dollars. (Round to two decimal places as needed.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:The accompanying data contains the monthly retail sales ($millions) of a large country's women's clothing stores for 70 months. A sample taken
from this population to estimate the average sales in this time period is shown below. Complete parts a through d below.
2,861 2,496 2,581 2,371 2,430 2,756 3,088 3,169
3,197 2,480 2,459 2,402 3,126 2,994 2,657 2,367
2,420 2,801 2,939 3,115 3,193 3,149 2,400
Click here to view the population data.
a. Calculate the population mean.
The population mean is million dollars.
(Round to two decimal places as needed.)
b. Calculate the sample mean.
The sample mean is million dollars.
(Round to two decimal places as needed.)
c. How much sampling error is present in this sample?
2,850
2,923
The sampling error is
million dollars.
(Round to two decimal places as needed.)
d. Determine the range of possible sampling error if 25 sales figures are sampled at random from this population.
The possible sampling error ranges from to million dollars.
/Round to two decimal places as needed Use ascending order)
Transcribed Image Text:More Info
2,322
2,480 3,126 2,850
2,781
3,193 2,967
2,939 2,858 2,694 2,993
2,603 2,701
2,496 2,504
2,843
2,801
2,974
2,400
2,861
2,994
3,061
2,444
3,112
3,164 2,459 2,514
2,887 2,371 2,525 2,677
2,729 2,657 3,100 2,804
2,507 2,919 2,581 3,024
2,420 2,789 3,121 2,756 3,149 2,591
3,107 3,070 3,161 2,985 2,383 3,109
2,430 2,923 2,495
3,004 3,115 2,427
2,603 2,956 3,088 3,197 2,740 2,579
2,367 2,620
2,546
3,169
2,402
2,704
3,197
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