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Recently, a random sample of 25−34 year old was asked, "How much do you currently have in savings, not induding retirement savings?" The data in the table represent the responses to the survey. Approximate the mean and standard deviation amount of savings.The sample mean amount of savings is $
Recently, a random sample of 25−34 year old was asked, "How much do you currently have in savings, not induding retirement savings?" The data in the table represent the responses to the survey. Approximate the mean and standard deviation amount of savings.The sample mean amount of savings is $
The approximate mean of the savings amounts reported by the respondents is $2908, and the approximate standard deviation is $166.3.To find the approximate mean and standard deviation of the savings amounts reported by the respondents, we first calculate the sample mean and then the sample standard deviation.1. Sample Mean:2. Sample Standard Deviation:Therefore, the approximate mean of the savings amounts reported by the respondents is $2908, and the approximate standard deviation is $166.3.The probable question may be:Recently, a random sample of 25-34-year-olds in the USA was surveyed about their current savings, excluding retirement savings. The data collected from the survey are tabulated below. Determine the approximate mean and standard deviation of the savings amounts reported by the respondents. What is the sample mean amount of savings?{Respondent} & \text{Amount of Savings (in dollars)} \\1 & 2000 \\2 & 3500 \\3 & 1500 \\4 & 4000 \\5 & 2200 \\6 & 1800 \\7 & 3000 \\8 & 2500 \\9 & 2800 \\10 & 3200 \\11 & 2700 \\12 & 2300 \\13 & 1900 \\14 & 2600 \\15 & 2100 \\16 & 3400 \\17 & 3700 \\18 & 3300 \\19 & 2800 \\20 & 3100 \\21 & 2900 \\22 & 3800 \\23 & 2700 \\24 & 3600 \\25 & 2500 \\...