How is the mean calculated from a series of observations? Suppose ...

[pane00]

How is the mean calculated from a series of observations? Suppose 5,000 people bought popsicles on a hot summer day. If the average number of popsicles that each person bought is 2, how many popsicles were sold that day?
 
  What will be an ideal response?

Question 2

A sharp increase in the divorce rate increases the number of lawyers hired to determine divorce settlements. This will
 
  A) decrease GDP and increase well-being in the economy.
  B) decrease GDP and decrease well-being in the economy.
  C) increase GDP and decrease well-being in the economy.
  D) increase GDP and increase well-being in the economy.

[pami445]

Answer to Question 1

The mean is the average value of a set of observations. It is calculated as the sum of all the different items divided by the number of items.
The average value is the sum of all popsicles sold divided by the number of people who bought them. If each of the 5,000 people bought an average of 2 popsicles, that means that 10,000 popsicles were sold that day.

Answer to Question 2

C

[pane00]

Thanks for the timely response, appreciate it

[mcabuhat]

Great answer, keep it coming