34 38 95 137 140 155 155 169 207 110 209 217 314 314 323 343 347 349 363 274 369 388 389 397 416 448 450 483 487 373 488 516 571 595 738 762 863 1,084 600 769

Mathematics For Machine Technology
8th Edition
ISBN:9781337798310
Author:Peterson, John.
Publisher:Peterson, John.
Chapter84: Binary Numeration System
Section: Chapter Questions
Problem 10A: Analyze the following numbers. 0.802
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Question

To estimate a population mean μ, the sample mean x¯ is often used as an estimator. However, a different estimator is called the sample midrange, given by the formula sample minimum + sample maximum/2.

(c) The following table shows the values, in thousands of dollars, of 40 randomly selected houses in the city.

(i) Calculate the sample midrange for the data.

(ii) Explain why the sample midrange might be preferred to the sample mean as an estimator of the population mean.

34
38
95
137
140
155
155
169
207
110
209
217
314
314
323
343
347
349
363
274
369
388
389
397
416
448
450
483
487
373
488
516
571
595
738
762
863
1,084
600
769
Transcribed Image Text:34 38 95 137 140 155 155 169 207 110 209 217 314 314 323 343 347 349 363 274 369 388 389 397 416 448 450 483 487 373 488 516 571 595 738 762 863 1,084 600 769
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