Recently, a university surveyed recent graduates of the english department for their starting salaries. one hundred graduatesreturned the survey. The average salary was $35000 with a standard deviaion of $2000. what is the best point estimate of the population mean ?

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Q: Make a table showing the approximate values and the actual value, together with the percentage error

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Average

In mathematics, everyone must have heard the term average in one place or other. Almost all types of calculation require taking out an average. In everyday life, the term is used for denoting a certain amount that can be said to be a typical quantity for multiple people or objects. In other words, if a group of people possesses a certain object, then the average gives us an idea regarding the quantity of the object possessed by each person. However, this is solely based on mathematical calculation. It is important to note that most people will not strictly have the average value in a group.