A sample of 8 new models of automobiles provides the following data on highway miles per gallon. Use Excel to answer the questions that follow the data. 
a.What is the point estimate for the average highway miles per gallon for all new models of autos?
b.Determine the point estimate for the standard deviation of the population.
Definitions:
Standard Error
A measure of the accuracy of predictions made with a statistical model, specifically it quantifies the variability of the sampling distribution of a statistic.
Square Root
A mathematical function that provides the original value when it is multiplied by itself.
Standard Deviation
The positive square root of the variance.
Advertising
The action of calling public attention to products, services, needs, etc., especially by paid announcements in print, broadcast, or electronic media.
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