Question
Given the following data for X (number of units sold), a normally distributed random variable, calculate E[X] or the mean of unit sales and S[X]
Given the following data for X (number of units sold), a normally distributed random variable, calculate E[X] or the mean of unit sales and S[X] or the sample standard deviation of unit sales using Excel.Calculate E[X] using "=AVERAGE( )" in Excel.Calculate S[X] using "=STDEV.S( )" in Excel. Round-off each to the nearest unit. Think of this sample of data being collected from one market in the last five years, or think of it as being collected in just one year from five different markets. Here is the data for X:
18,000 units 25,000 units 25,000 units 25,000 units 32,000 units
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