Below You Are Given the Values Obtained from a Random $\mu$

question 38

Essay

Below you are given the values obtained from a random sample of 4 observations taken from an infinite population.

a.Find a point estimate for $\mu$ .Is this an unbiased estimate of $\mu$ ? Explain.
b.Find a point estimate for $\sigma$ ².Is this an unbiased estimate of $\sigma$ ²? Explain.
c.Find a point estimate for $\sigma$ .
d.What can be said about the sampling distribution of $\bar{x}$ ? Be sure to discuss the expected value,the standard deviation,and the shape of the sampling distribution of $\bar{x}$

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Definitions:

Fashion Apparel

Clothing and accessories designed and manufactured according to current trends and styles.

Varying Price

A pricing strategy where the price of a product or service changes over time or depending on the situation, often in response to market demand.

Market Segments

Divisions within a broader market, categorized by distinct characteristics such as demographics, needs, or preferences.

Product Attributes

Characteristics or features that define a product, including quality, size, design, and functionality.