=+4. Suppose that after computing xn based on n sample observations x1, . . . , xn,
Question:
=+4. Suppose that after computing xn based on n sample observations x1, . . . , xn, another observation xn11 becomes available. What is the relationship between the mean of the first n observations, the new observation, and the mean of all n11 observations?
The mean of the 10 observations in Exercise 1 is 640.5. If an 11th property had sold at a price of 780, what would be the mean sale price for all 11 properties?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Applied Statistics For Engineers And Scientists
ISBN: 9781133111368
3rd Edition
Authors: Jay L. Devore, Nicholas R. Farnum, Jimmy A. Doi
Question Posted: