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The owners of a manufacturing company conducted a survey to determine the mean income of the customers who prefer the company’s brand of clothing. From a random sample of 100 customers, it was determined that their mean income was $47,600. Which conclusion can be made based on this information? The total population mean must be much greater than$47,600 because there are more people in the total population.

The total population mean cannot be determined by such a small random sample.

The total population mean must be close to $47,600 based on statistical inference. The total population mean must be much less than$47,600 because, out of a sample of 100, a few people with a very high mean income would skew the data.

The entire population mean must be close to $47,600. Then the correct option is C. What is Mean? The mean is the simple definition of the average of a bunch of numbers. In statistics, one of the markers of central tendency is the mean. The average is referred to as the arithmetic mean. It's the ratio of the number of real observations to the total number of observations. The owners of a manufacturing company conducted a survey to determine the mean income of the customers who prefer the company’s brand of clothing. From a random sample of 100 customers, it was determined that their mean income was$47,600.
Based on statistical analysis, the entire population mean must be close to $47,600. More about the mean link is given below. #SPJ2 by 0 like 0 dislike The total population mean must be close to$47,600 based on statistical inference.