Many drugs used to treat cancer are expensive. BusinessWeek reported on the cost per treatment of Herceptin,

Question:

Many drugs used to treat cancer are expensive. BusinessWeek reported on the cost per treatment of Herceptin, a drug used to treat breast cancer (BusinessWeek, January 30, 2006). Typical treatment costs (in dollars) for Herceptin are provided by a simple random sample of 10 patients.

a. Develop a point estimate of the mean cost per treatment with Herceptin.
b. Develop a point estimate of the standard deviation of the cost per treatment with Herceptin.