A Sample of 12 Measurements Has a Mean of 25

question 9

Essay

A sample of 12 measurements has a mean of 25 and a standard deviation of 4. Suppose that the sample is enlarged to 14 measurements, by including two additional measurements having a common value of 25.
a. Find the mean of the sample of 14 measurements.
b. Find the standard deviation of the sample of 14 measurements.

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Definitions:

Mortgage Rate

The interest rate applied to a mortgage loan, determining the cost of borrowing for the acquisition of a property.

Special Mortgage Rate

A mortgage interest rate that is offered by lenders under certain conditions that is typically lower than the standard rate available to most borrowers.

Demographic Characteristics

Attributes of populations, such as age, race, gender, income, and education level, used for statistical analyses and marketing strategies.

Social Forces

The demographic characteristics of the population and its culture.