The accounting firm of Crawford and Associates has five

Chapter 3, Problem 49E

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QUESTION:

Problem 49E

The accounting firm of Crawford and Associates has five senior partners. Yesterday the senior partners saw six, four, three, seven, and five clients, respectively.

a. Compute the mean number and median number of clients seen by the partners.

b. Is the mean a sample mean or a population mean?

c. Verify that Σ(X - μ) = 0.

Questions & Answers

QUESTION:

Problem 49E

The accounting firm of Crawford and Associates has five senior partners. Yesterday the senior partners saw six, four, three, seven, and five clients, respectively.

a. Compute the mean number and median number of clients seen by the partners.

b. Is the mean a sample mean or a population mean?

c. Verify that Σ(X - μ) = 0.

ANSWER:

Solution 49E

Step1 of 4:

The total number of senior partners = 5.

The number of clients seen by partner 1 = 6,

The number of clients seen by partner 2 = 4,

The number of clients seen by partner 3 = 3,

The number of clients seen by partner 4 = 7, and

The number of clients seen by partner 5 = 5.

Here our goal is:

a). We need to compute the mean number and median number of clients seen by the partners.

b). We need to check whether the mean is a sample mean or a population mean.

c). We need to verify that Σ(X - μ) = 0.


Step2 of 4:

a).

The mean number of clients seen by the partners is:

 

Consider,

Partners

Clients

1

6

2

4

3

3

4

7

5

5

n = 5

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