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:
Analyzing Alternatives
The process of evaluating different options or approaches to identify the most effective solution to a problem or decision.
Best Course of Action
The most appropriate or effective decision or strategy to take in a given situation.
Setting Objectives
The process of establishing specific, measurable, achievable, relevant, and time-bound goals for individuals or organizations.
Management Function
The roles and activities undertaken by managers to achieve organizational objectives, including planning, organizing, leading, and controlling.
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