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The mean monthly electric bill for 49 residents of the local apartment complex is $68. What...

The mean monthly electric bill for 49 residents of the local apartment complex is $68. What is the best point estimate for the mean monthly electric bill for all residents of the local apartment complex?

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Answer #1

Solution :

Given that,

population mean = \mu = $68

sample size = n = 49

Point estimate = sample mean = \bar x = $ 68

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