Question

American households spent an average of about $68 in 2007 on Halloween merchandise such as costumes, decorations and candy. To see if this number had changed, researchers conducted a new survey in 2008 before industry numbers were reported. The survey included 1,500 households and found that average Halloween spending was $58 per household.

The sample mean is __________ dollars, while the claimed population mean is _________ dollars.

Answer 1

The sample mean is $58 and population mean is $68.

Step-by-step explanation:

Since, They do a survey on only 1500 households and use only this information to get mean. So, Sample Mean is $58 whereas Population Mean is $68.

When we get information using all possible units, Then it is Population.

The sample is a subset of the population. We take samples because it is easy to analyze samples as compared to population and it is less time taken.