Hello~!! I'm new to this forum
Please show me how to do this little problem (from my A-level CIE stats book)-
Unbiased estimates of the mean and variance of a population, based on a random sample of 24 observations, are 5.5 and 2.42 respectively. Another random observation of 8.0 is obtained. Find new unbiased estimates of the mean and variance with this new information.
(the textbook says "8.0", but I think it should just be 8, but not too sure)
(the answer is Mean: 5.6 and Unbiased Variance: 2.569)
Thanks in advance!!