In: Statistics and Probability
The target value for a watch is to lose no time over a year. A sample of 4 watches had the following time gained (lost) in minutes: (-1, -2, 3, -3). Assume k = $4. Calculate the following:
Round your answers to two decimal places.
Average squared deviation:
Average loss per watch:
Total expected loss for 8,000 watches produced and sold: $