Question

The point estimate for the mean number of sales of cars for the following data 103, 140, 92, 115, 110, is:

• A. 111
• B. 112
• C. 115
• D. 114

Answer 1

The Correct Option is B

To determine the point estimate for the mean number of sales of cars from the given data set, we use the formula for the arithmetic mean (average):

The arithmetic mean, denoted as \( \bar{x} \), is calculated by summing all the values and then dividing by the number of values. For the given data set: 103, 140, 92, 115, 110, the process is as follows:

1. Add all the numbers together.

\[ \text{Sum} = 103 + 140 + 92 + 115 + 110 = 560 \]

2. Divide the sum by the number of data points. There are 5 data points.

\[ \bar{x} = \frac{560}{5} = 112 \]

Therefore, the point estimate for the mean number of sales of cars is 112.