SOLUTION: The monthly incomes for 12 randomly selected people, each with a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below.

Question 1203842: The monthly incomes for 12

randomly selected people, each with a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below.
Assume the population is normally distributed.

4450.56
4596.08
4366.27

4455.71
4151.02
3727.27
4283.79
4527.36
4407.24
3946.73
4023.58
4221.79
Question content area bottom
Part 1
(a) Find the sample mean.
x overbar
equalsenter your response here
(Round to one decimal place as needed.)

Answer by math_tutor2020(3817) (Show Source): You can put this solution on YOUR website!

To find the sample mean, add up the values and then divide by the sample size.

Example:
The sample mean of {1,2,7} is (1+2+7)/3 = 10/3 = 3.33 approximately

I recommend pasting the given data into a spreadsheet. Then you can add the values quickly with the command named "SUM".
Another command is called "AVERAGE" to directly compute the sample mean.

For example, if your data values are in cells A1 through A12, then:
=SUM(A1:A12) will compute the sum of the items in cells A1 through A12
=AVERAGE(A1:A12) will compute the arithmetic mean of the items in cells A1 through A12
Do not forget about the equal sign up front. It is needed to evaluate the command. Otherwise, the spreadsheet will interpret it as plaintext.

I'll let the student do the computations I have described.

RELATED QUESTIONS
11. The monthly incomes for 12 randomly selected people, each with a bachelor�s degree in (answered by ewatrrr)

n a study of government financial aid for college students, researchers needed to... (answered by Boreal)

The mean household incomes of randomly selected residents of Temecula City, CA in U.S.... (answered by Jstrasner)

The average yearly salary of a person whose final degree is a master's is 39thousand less (answered by ikleyn)

Suppose the average yearly salary of an individual whose final degree is a master's is (answered by greenestamps)

The U.S center for Disease Control reported that 4 out of 10 people with incomes between... (answered by ewatrrr)

A psychologist is interested in constructing a 95% confidence interval for the proportion (answered by Boreal)

A psychologist is interested in constructing a 99% confidence interval for the proportion (answered by Boreal)

Among 500 freshmen pursuing a business degree at a university, 332 are enrolled in an... (answered by solver91311)

SOLUTION: The monthly incomes for 12 randomly selected​ people, each with a​ bachelor's degree in​ economics, are shown on the right. Complete parts​ (a) through​ (c) below.

SOLUTION: The monthly incomes for 12 randomly selected people, each with a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below.