A vendor states that over the past year, the mean monthly sales were 10,000 with a standard deviation of 2,000. The sales in most months, however, were below 8,000 and the most frequent monthly sales were 7,500. What were her yearly sales?
Is the answer $120000? Since summation of observations is mean times number of observations. The number of observations being 12 (months in a year). But then why are we given median, mode and standard deviation? Thanks in advance
Yes the yearly sale is $$12\times 10000 =120000 $$
We do not have to use the other information to find the total sale.
Are they asking for more analysis, for example how many months of $7500$?