Question: Starbucks regularly introduces new coffee drinks and attempts to evaluate

Starbucks regularly introduces new coffee drinks and attempts to evaluate how these drinks fare by estimating the price its franchises can charge for them and sell enough cups to justify marketing the drink. Suppose the following random sample of prices a new drink sells for in New York (in dollars) is available:
4.50, 4.25, 4.10, 4.75, 4.80, 3.90, 4.20, 4.55, 4.65, 4.85, 3.85, 4.15, 4.85, 3.95, 4.30, 4.60, 4.00.
Compute the sample estimators of the population mean and standard deviation.

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  • CreatedJune 03, 2015
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