A. Directions: Find the point estimate of the given problem. A random variable sample of 25 applications for a credit card produced the following observations on the random variable X, the percentage of take home pay being spent on installment bills. Find point estimate for the mean. 15.5 18.2 20.5 15.4 21.4 20.5 12.8 18.4 24.6 20.6 14.9 24.2 16.7 18.3 22.2

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Q: #7. For the sample data 14.8 12.7 18.0 14.5 12.3 10.5 9.1 8.3 (a) Compute the sample mean x, sample…

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A: Solve for the mean