Answer & Explanation
a.The point estimate of the mean value is the sample mean. You calculate it using the following formula:
The point estimate that divides the sample in 50%-50% is the measure of central tendency called Median(Me).
To reach the median you have to calculate it's position (PosMe)
For uneven samples PosMe=
So next is to order the data from lower to heighest and identify the value in the 14th position
The point estimate of the population standard deviation is the sample standard deviation. The standard deviation is the square root of the variance, so the first step is to calculate the sample variance:
The standard deviation is a measurement of variability, it shows how to disperse the data is concerning the sample mean.
d. This estimate describes the spread of the data.
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