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Get Full Access to Basic Statistics For Business And Economics - 7 Edition - Chapter 3 - Problem 9e
Get Full Access to Basic Statistics For Business And Economics - 7 Edition - Chapter 3 - Problem 9e

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# The Cambridge Power and Light Company selected a random

ISBN: 9780077384470 64

## Solution for problem 9E Chapter 3

Basic Statistics for Business and Economics | 7th Edition

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Problem 9E

Problem 9E

The Cambridge Power and Light Company selected a random sample of 20 residential customers. Following are the amounts, to the nearest dollar, the customers were charged for electrical service last month: (10%)

 54 48 58 50 25 47 75 46 60 70 67 68 39 35 56 66 33 62 65 67

(a) compute the arithmetic mean and (b) indicate whether it is a statistic or a parameter.

Step-by-Step Solution:
Step 1 of 3

Solution 9E

Step1 of 3:

From the given problem we have data set and it is given below:

 54 48 58 50 25 47 75 46 60 70 67 68 39 35 56 66 33 62 65 67

Here our goal is:

a). We need to compute the arithmetic mean.

b). We need to indicate whether it is a statistic or a parameter.

Step2 of 3:

a).

The arithmetic mean of the given data is calculated by using the formula:

Consider,

 S.No. X 1 54 2 48 3 58 4 50 5 25 6 47 7 75 8 46 9 60 10 70 11 67 12 68 13 39 14 35 15 56 16 66 17 33 18 62 19 65 20 67 n = 20

Now,

Therefore, the arithmetic mean of the given data is \$54.55.

Step3 of 3:

b).

A sample statistic, assuming that the power company serves more than 20 customers.

Step 2 of 3

Step 3 of 3

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