Answer to Question #140620 in Statistics and Probability for Katte

Question #140620
A research firm conducted a survey to determine the mean amount of money smokers spend on cigarettes during a day. A sample of 100 smokers revealed that the sample mean is N$ 5.24 and sample standard deviation is N$ 2.18 Assume that the sample was drawn from a normal population.
2.1) Find the point estimate of the population mean
1
Expert's answer
2020-10-27T18:36:23-0400

The sample mean $5.24 is a point estimate of the unknown population mean and is the best estimate, given the data.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS