A technical magazine stated that the mean retail cost of all models of a particular laptop was $600. A random sample of 10 stores that sell that laptop in Los Angeles found it sold with a mean cost of $586.50 and a standard deviation of $26.77. Does this indicate that the mean cost of that laptop in Los Angeles is less than $600?

Answer:No neccesarilyStep-by-step explanation:10 is not a big enough number to estimate the mean of the cost of the laptop. In Los Angeles there are hundreads, if not thousands, of laptop stores, and you need a sample with at least 50 or maybe more stores to obtain more precese results. In a sample of ten there might be one or two stores that sell the laptop at $550, which shoudnt be strange due to the standard deviation of $26.77, and those 2 samples might make your sample mean a lot smaller than $600, but that alone doesnt guarantee that the mean cost on Los Angeles is less than $600.