The starting salaries of a random sample of three students who graduated from North Carolina State University last year with majors in the mathematical sciences are $45,000, $50,000, and $40,000. Find a point estimate of the population mean of the starting salaries of all math science graduates at that university last year.
2 answers
A sample of three is too small. Also the distribution is not likely to be normal. With what little data you have, my best guess would be the median of the three scores.
Other versions of this question may have further questions for you to answer, but for the sake of the question, your "point estimate' is $45,000.
45000 + 50000 + 40000 =135000
135000/3 = 45000
45000 + 50000 + 40000 =135000
135000/3 = 45000
1 answer