Question
Statistics faculty were considering textbooks for their introductory statistics class. They chose 10 books and found their mean cost to be $151.45 with a standard
Statistics faculty were considering textbooks for their introductory statistics class. They chose 10 books and found their mean cost to be $151.45 with a standard deviation of $9.87. At the last minute, a faculty member added one more textbook to be considered. This new textbook had a price of $45.99.
a. How would the addition of the new textbook impact the mean cost of the textbooks being considered? Explain your reasoning.
b. How would the addition of the new textbook impact the standard deviation of the the cost of the textbooks being considered? Explain your reasoning.
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