The Mendez Mortgage Company case study was introduced in Chapter 2. A random sample of n = 350 accounts of the company’s total portfolio is stored in the data file Mendez Mortgage.

Consider the variable “Original Purchase Price.” Use unbiased estimation procedures to find point estimates of the following:

a. The population mean

b. The population variance

c. The variance of the sample mean

d. The population proportion of all mortgages with original purchase price of less than

$10,000