Question

A population of 900 students spends an average of $10.50 a day on dinner. The variance of the expenditure is $16. A simple random sample of 64 students is taken.

Answer 1

Answer and Explanation:

To find the mean and standard deviation of the sample expenditure, we can use the formulas:

Mean (µ) = Population mean (µ) = $10.50

Standard Deviation (σ) = √(Variance) = √($16)

1. Mean:

The mean expenditure of the sample can be found using the formula for the population mean, as the sample is representative of the population. Therefore, the mean expenditure of the sample is $10.50.

2. Standard Deviation:

The standard deviation of the sample can be found by taking the square root of the variance. The square root of $16 is $4.

In summary, the mean expenditure of the sample is $10.50, and the standard deviation is $4.