Questions
Short answer
In 2016, the average fee paid by customers for tax returns was $160. Assume that the standard deviation of fees was $56 but that we have no idea regarding the shape of the population distribution. What’s the standard deviation of the sample means of randomly selected samples of 40 customers? Provide the answer as a fraction to three decimal places.
View Explanation
Verified Answer
Please login to view
Step-by-Step Analysis
We are asked for the standard deviation of the sampling distribution of the sample means when sampling 40 customers.
First, re......Login to view full explanationLog in for full answers
We've collected over 50,000 authentic exam questions and detailed explanations from around the globe. Log in now and get instant access to the answers!
Similar Questions
Question at position 10 A simple random sample of 100 observations was taken from a large population. The sample mean and the standard deviation were determined to be 80 and 12, respectively. Calculate the standard error of the mean and identify the final answer. NOTE: Please provide your calculation and final answer in separate blank spaces. The calculation is: Question Blank 1 of 2[input] The final answer is: Question Blank 2 of 2[input]
位置1的问题 From a population of 500 elements, a sample of 225 elements is selected. It is known that the variance of the population is 900. The standard error of the mean is approximately 题库 1/1[input]. (Note: your answer should retain THREE decimal places.)
The professor of a large probability class randomly selected 8 students and asked the amount of time (in hours) spent for her course per week. The data are given below. 7 9 5 12 14 6 10 3 Estimate the standard error of the estimated time spent in a week for this course by the students who are taking this course (round off to first decimal place).
A population has a mean of 37 and a standard deviation of 13. A sample of size 5 is taken at random from this population. The standard error of the sample mean equals (up to three decimal places):
More Practical Tools for Students Powered by AI Study Helper
Making Your Study Simpler
Join us and instantly unlock extensive past papers & exclusive solutions to get a head start on your studies!