The owner of a large fleet of taxis is trying to estimate his calls of operations for the next three years. One major cost is fuel purchase. To estimate total purchase, the owner needs to know the total distance his taxis will travel next yr, the cost of a gallon of fuel and fuel millage of taxis. The owner has been provided with first two figures i.e distance estimate and cost of a gallon of fuel. However because of the high cost of fuel, the owner has recently converted his taxis to operate on a more efficient type of gassoline. He measures and recorded and recorded the millage into (mile/gallons) for 15 taxis
a) Population of interest?
b) The parameter the owner needs to knw?
c) What is the sample?
d) What is the statistics?
e) Describe how statistics will provide the information the owner needs to knw