Basic Statistics: Tales of Distributions 10th Edition

Published by Cengage Learning
ISBN 10: 0-49580-891-1
ISBN 13: 978-0-49580-891-6

Chapter 16 - Choosing Tests and Writing Interpretations - Problems: 16.1

Answer

The mean profitability of 3 divisions of a company is provided. To find the overall profitability of the company, there is not enough information.

Work Step by Step

If all 3 divisions had the same amount of capital invested, then the mean would be the sun of the 4 divisions' profitability values, divided by 3. But we are not told the amount of capital invested in each division, so we can't calculate the company's overall profitability without this missing information. If the missing data were provided, we would calculate the weighted mean for the data.
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