People between the ages of 21 and 35 are surveyed The mean o
People between the ages of 21 and 35 are surveyed. The mean of their credit card debt is $12, 388. Suppose the actual mean credit card debt for this age group is $9301. What is mu and x ?
Solution
The mean is the average of the numbers: a calculated \"central\" value of a set of numbers.
To calculate: Just add up all the numbers, then divide by how many numbers there are.
here
u = $ 12,388
and x = $ 9,301
