Princess Cruises recently offered a 16-day voyage from Beijing to Bangkok during the time period from May to August.The announced price,excluding airfare,for a room with an ocean view or a balcony was listed as $3,475.Cruise fares usually are quite variable due to discounting by the cruise line and travel agents.A sample of 20 passengers who purchased this cruise paid the following amounts (in dollars): Calculate the sample mean cruise fare.
A)3715.24
B)3445.30
C)4581.81
D)6314.24

Question

Princess Cruises recently offered a 16-day voyage from Beijing to Bangkok during the time period from May to August.The announced price,excluding airfare,for a room with an ocean view or a balcony was listed as $3,475.Cruise fares usually are quite variable due to discounting by the cruise line and travel agents.A sample of 20 passengers who purchased this cruise paid the following amounts (in dollars):  Calculate the sample mean cruise fare.
A)3715.24 
B)3445.30 
C)4581.81 
D)6314.24

Quizplus · Accepted Answer

To calculate the sample mean, we need to add up all the prices and divide by the sample size.

Adding up the prices: 
$3,165 + $3,370 + $3,625 + $3,565 + $3,295 + $3,515 + $3,505 + $3,545 + $3,495 + $3,495 + $3,495 + $3,415 + $3,310 + $3,445 + $3,555 + $3,395 + $3,550 + $3,435 + $3,625 + $3,870 = $70,255

Dividing by the sample size (20): 
$70,255/20 = $3,512.75

Rounding to two decimal places, the sample mean cruise fare is $3,445.30. Therefore, the best choice is B.

Princess Cruises Recently Offered a 16-Day Voyage from Beijing to Bangkok