A marketing manager for the Verizon cell phone company selected a random sample of 250 customers from the list of 10,556 total customers in a particular region. The mean monthly bill for the last six months based on the sample data is $65.70. The manager should realize that the mean bill for all 10,556 customers will actually be much higher than the sample mean of $65.70.

Question

Quizplus · Accepted Answer

The mean of the sample is used as an estimate for the mean of the entire population, and without further evidence, there's no basis to assume that the mean bill for all customers will be much higher than the sample mean.

A Marketing Manager for the Verizon Cell Phone Company Selected