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A Simple Random Sample of 5 Observations from a Population

question 96

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A simple random sample of 5 observations from a population containing 400 elements was taken, and the following values were obtained. 15
19
21
24
31
A point estimate of the mean is


Definitions:

Interest Rate

The percentage of the borrowed sum charged to the borrower as interest, generally represented as an annual rate of the total loan amount.

Antique Price

The market value or cost of an object that has historical significance or is considered collectible due to its age.

Interest Rate

The rate at which interest is either incurred or earned for borrowing or lending money during a specific time frame.

Investment Purposes

The intent behind putting money into financial schemes, shares, property, or a commercial venture, aiming for a future financial return.

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