A car company wants to know the monthly sales made in ($000), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Model N MEAN MEDIAN TRI.MEAN STD DEV S.E. MEAN Hyundai  23 109 135 107.64 * 1.34 Toyota 27 165 124 143.65 9.5 **   a) Determine the values of * and **.  b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
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A car company wants to know the monthly sales made in ($000), based on the brand of vehicle.
The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was
subsequently generated.

Model N MEAN MEDIAN TRI.MEAN STD DEV S.E. MEAN
Hyundai  23 109 135 107.64 * 1.34
Toyota 27 165 124 143.65 9.5 **

 

a) Determine the values of * and **. 
b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles.
c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles.

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