10th Edition

ISBN: 9780321989178

Author: Neil A. Weiss

Publisher: PEARSON

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A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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Textbook Question

Chapter 8.1, Problem 17E

Wedding Costs. According to Bride’s Magazine, getting married these days can be expensive when the costs of the reception, engagement ring, bridal gown, pictures—just to name a few—are included. A simple random sample of 20 recent U.S. weddings yielded the following data on wedding costs, in dollars.

Chapter 8.1, Problem 17E, Wedding Costs. According to Brides Magazine, getting married these days can be expensive when the

a. Use the data to obtain a point estimate for the population mean wedding cost, μ, of all recent U.S. weddings. (Note: The sum of the data is $526,538.)
b. Is your point estimate in part (a) likely to equal μ exactly? Explain your answer.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 8.1, Problem 16E

Chapter 8.1, Problem 18E

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Chapter 8 Solutions

Introductory Statistics (10th Edition)

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