Using the Grouped Data Below,determine the Population Mean and Population

question 103

Short Answer

Using the grouped data below,determine the population mean and population standard deviation: $$\begin{array} { | c | c | } \hline \text { Sales (\$1000) } & \text { Frequency } \\\hline 10 - 14 & 1 \\15 - 19 & 2 \\20 - 24 & 5 \\25 - 29 & 3 \\30 - 34 & 5 \\35 - 39 & 12 \\40 - 44 & 5 \\\hline\end{array}$$ $\mu$ = ____________________.
$\sigma$ ____________________.

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Definitions:

Formal Hierarchy

An organizational structure where individuals are ranked according to their levels of authority and responsibility, forming a clear chain of command.

Centralized Structure

An organizational structure where decision-making authority is concentrated at the top levels of management.

Organic Structure

Is a flexible, decentralized organizational structure with less formal procedures, open communication channels, and a focus on adaptability and teamwork.

Decentralized Decision

A management strategy where decision-making powers are distributed among various levels of the organization rather than being concentrated at the top.