To estimate a population mean u, the sample mean ī is often used as an estimator. However, a different estimator is called the sample midrange, given by the formula sample minimum + sample maximum (c) The following table shows the values, in thousands of dollars, of 40 randomly selected houses in the city. 34 95 155 155 38 110 137 140 169 207 217 314 314 343 347 209 274 323 349 363 397 416 487 369 373 388 389 448 450 483 516 571 595 762 488 600 738 769 863 1,084 (1) Calculate the sample midrange for the data. (ii) Explain why the sample midrange might be preferred to the sample mean as an estimator of the population mean.
To estimate a population mean u, the sample mean ī is often used as an estimator. However, a different estimator is called the sample midrange, given by the formula sample minimum + sample maximum (c) The following table shows the values, in thousands of dollars, of 40 randomly selected houses in the city. 34 95 155 155 38 110 137 140 169 207 217 314 314 343 347 209 274 323 349 363 397 416 487 369 373 388 389 448 450 483 516 571 595 762 488 600 738 769 863 1,084 (1) Calculate the sample midrange for the data. (ii) Explain why the sample midrange might be preferred to the sample mean as an estimator of the population mean.
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:To estimate a population mean u, the sample mean ī is often used as an estimator. However, a different estimator is called the sample midrange, given by the formula
sample minimum + sample maximum
(c) The following table shows the values, in thousands of dollars, of 40 randomly selected houses in the city.
34
95
155
155
38
110
137
140
169
207
217
314
314
343
347
209
274
323
349
363
397
416
487
369
373
388
389
448
450
483
516
571
595
762
488
600
738
769
863
1,084
(1) Calculate the sample midrange for the data.
(ii) Explain why the sample midrange might be preferred to the sample mean as an estimator of the population mean.
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