
Answer-first summary for fast verification
Answer: Sample Mean = 34.53, Standard deviation = 82.96
## Calculation Explanation ### Sample Mean Calculation The sample mean is calculated as: $$ \hat{\mu} = \bar{X} = \frac{1}{n} \sum_{i=1}^{n} X_i $$ $$ \Rightarrow \bar{X} = \frac{1}{100} \times 3,453 = 34.53 $$ ### Sample Standard Deviation Calculation The sample variance is calculated using: $$ s^2 = \frac{1}{n-1} \left\{ \sum_{i=1}^{n} X_i^2 - n \hat{\mu}^2 \right\} $$ $$ s^2 = \frac{1}{99} (800,536 - 100 \times 34.53^2) $$ $$ 34.53^2 = 1192.3209 $$ $$ 100 \times 1192.3209 = 119,232.09 $$ $$ 800,536 - 119,232.09 = 681,303.91 $$ $$ s^2 = \frac{681,303.91}{99} = 6881.857677 $$ ### Standard Deviation $$ s = \sqrt{6881.857677} = 82.96 $$ Therefore, the correct values are: - **Sample Mean = 34.53** - **Standard Deviation = 82.96**
Author: Tanishq Prabhu
Ultimate access to all questions.
A sample of 100 monthly profits gave out the following data:
What is the sample mean and standard deviation of the monthly profits?
A
Sample Mean = 33.53, Standard deviation = 85.99
B
Sample Mean = 34.53, Standard deviation = 82.96
C
Sample Mean = 43.53, Standard deviation = 89.99
D
Sample Mean = 33.63, Standard deviation = 65.99
No comments yet.