Tuesday, July 15, 2014

What is the point estimate for the average age of all employees random sample of 8 employees with ages 25 32 26 40 50 54 22 23?

What is the point estimate for the average age of all employees random sample of 8 employees with ages 25 32 26 40 50 54 22 23?
Add all of the figures and divide by the number of employees:

Using this equation-

The sum of all Xi/ Quantity=

25+32+26+40+50+54+22+23= 272/ 8= 34 The point estimate is 34.

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