A bookstore wishes to estimate the total number of pages of books it has in its store.

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A bookstore wishes to estimate the total number of pages of books it has in its store. Based on the current inventory, the store has 11,000 books which were purchased for a total price of $71500. A store worker takes a simple random sample of 80 books and records the price and number of pages for each book. Some information about the sample is given below:

Sample mean price 6.76

Sample mean number of pages 590

Sample variance for price 8.16

Sample variance for number of pages 85058

Sample variance of residuals for ratio estimation 7813

Sample variance of residuals for regression estimation 6880

Sample correlation between price and number of pages 0.96

Estimate the population total number of pages and give the standard error of your estimate using regression estimation

Posted Date: Nov 05, 2021 04:48 PM

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A bookstore wishes to estimate the total number of pages of books it has in its store.

Question:

Expert Answer:

Salution Griven Store has 11000 books Total price 71500 Random ... View the full answer

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