3. A magazine collected data on the total cost of the reception at each of a random sample of 80 weddings.
The data is grouped and coded using \(y = \frac { C - 3250 } { 250 }\), where \(C\) is the mid-point in pounds of each class, giving \(\sum f y = 37\) and \(\sum f y ^ { 2 } = 2317\).
- Using these values, calculate estimates of the mean and standard deviation of the cost of the receptions in the sample.
- Explain why your answers to part (a) are only estimates.
The median of the data was \(\pounds 3050\).
- Comment on the skewness of the data and suggest a reason for it.