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The milk prices (in quarts) from a sample of 9 convenience stores in Chattanooga, Tennessee are ...

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The milk prices (in quarts) from a sample of 9 convenience stores in Chattanooga, Tennessee are ...

The milk prices (in quarts) from a sample of 9 convenience stores in Chattanooga, Tennessee are shown below.

Store#	Price Per Quart (x)
1	$1.14
2	$1.19
3	$1.25
4	$1.21
5	$1.17
6	$1.19
7	$1.22
8	$1.24
9	$1.19

a.	What is the point estimate for the prices of all convenience stores in Chattanooga?
b.	What is the point estimate for the standard deviation of the population?

Textbook

Essentials of Statistics for Business and Economics

Edition: 7^th

Authors: Anderson, Sweeney, Williams, Camm, Cochran

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