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A random sample of n = 64 observations is drawn from a

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 18E Chapter 5

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 18E

Problem 18E

A random sample of n = 64 observations is drawn from a population with a mean equal to 20 and a standard deviation equal to 16.

a. Give the mean and standard deviation of the (repeated) sampling distribution of .

b. Describe the shape of the sampling distribution of Does your answer depend on the sample size?

c. Calculate the standard normal z-score corresponding to a value of  = 15.5.

d. Calculate the standard normal z-score corresponding to =23

Step-by-Step Solution:

Solution:

Step 1 of 3:

A random sample of n=64 observations is drawn from a population with a mean equal to 20 and the standard deviation equal to 16.

  1. We have to find the mean and standard deviation of the sampling distribution of .
  2. We have to describe the shape of the sampling distribution.
  3. We have to calculate the standard normal Z-score corresponding to a value of =15.5.
  4. We have to calculate the standard normal Z-score corresponding to =23.


Step 2 of 3

Chapter 5, Problem 18E is Solved
Step 3 of 3

Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

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A random sample of n = 64 observations is drawn from a