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Movies: Estimating Mean and Standard Deviation Consider

Chapter 3, Problem 6RE

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QUESTION:

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.

Questions & Answers

QUESTION:

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.

ANSWER:

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 =

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