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Movies: Estimating Mean and Standard Deviation Consider

Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola ISBN: 9780321836960 18

Solution for problem 6RE Chapter 3.4

Elementary Statistics | 12th Edition

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Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola

Elementary Statistics | 12th Edition

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Problem 6RE

 

Movies: Estimating Mean and Standard Deviation Consider the prices of regular movie tickets (not 3-D, and not discounted for children or seniors). The prices of movie tickets are $15, $20, $22. $24 and $25.

a. Estimate the mean price.

b. Use the range rule of thumb to make a rough estimate of the standard deviation of the prices.

Step-by-Step Solution:

Answer :

Step 1 of 1 :

a).

Consider the prices of regular movie tickets are

$15,$20,$22,$24,and $25

Now we have to estimate Mean and Standard Deviation

Find the mean (the average) of the data set:

 =

Mean =

Mean =

Mean =

Mean = 21.2

The answers may vary but a mean around $8 or $9 is reasonable.

b).

A reasonable standard deviation would be around $1 or $2.

Calculate the deviation from the mean by subtracting each value from the mean.

Then the formula of the standard deviation is

SD=

Step 2 of 3

Chapter 3.4, Problem 6RE is Solved
Step 3 of 3

Textbook: Elementary Statistics
Edition: 12
Author: Mario F. Triola
ISBN: 9780321836960

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Movies: Estimating Mean and Standard Deviation Consider

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