The Following Data Was Collected from a Simple Random Sample

question 81

Multiple Choice

The following data was collected from a simple random sample of a population. 13 15 14 16 12
The point estimate of the population mean

• A)cannot be determined, since the population size is unknown
• B)is 14
• C)is 4
• D)is 5

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Definitions:

Objective Function

A function that one seeks to optimize, usually in mathematical optimization problems. It represents the goal of an optimization problem.

Optimal Solution

The most efficient and effective answer to a problem, typically found through systematic analysis or computation, that maximizes or minimizes desired factors.

Transportation Problem

A type of optimization issue in operations research that involves finding the most efficient way to distribute goods from several suppliers to several consumers.

Improvement Index

A metric or measure used to gauge the level of performance enhancement or progress in a given area or system over a period.