The file P02_16.xlsx contains traffic data from 256 weekdays on four variables. Each variable lists the number
Question:
a. For each of the four variables, find the sample mean. If each of these is used as an estimate from the corresponding (unknown) population mean, is there any reason to believe that they either underestimate or overestimate the population means? Why or why not?
b. What are the (approximate) standard errors of the estimates in part a? How can you interpret these standard errors? Be as specific as possible.
c. Is it likely that the estimates in part a are accurate to within 0.4 arrival? Why or why not?
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Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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