s = 55.3 in this situation means the annual sales that can be written in millions like 55.3 million sales in 2008.
Mean:
Mean is the fraction of the sum of the observed data by the total number of sample data.
That is,
Mean = Sum of all observations / number of observations
Given,
Let s be the annual sales (in millions) for a particular electronic item.
The value of s is 55.3 for 2008.
Here we need to find what does s = 55.3 mean in this situation.
According to the question,
s represents the annual sales (in millions) for a particular electronic item.
So,
s = 55.3
means the the annual sales (in millions) for a particular electronic item.
Like 55.3 millions of particular electronic item sold in 2008.
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