Question: According to the Project on Student Debt the average student
According to the Project on Student Debt, the average student loan for college graduates of the class of 2010 was $25,000 (USA TODAY, April 24, 2012). Suppose that the student loans for all college graduates of the class of 2010 have a mean of $25,000 and a standard deviation of $6280. Let be the average student loan of a random sample of 400 college graduates from the class of 2010. Find the mean and standard deviation of the sampling distribution of
Answer to relevant QuestionsExplain briefly the meaning of sampling error. Give an example. Does such an error occur only in a sample survey, or can it occur in both a sample survey and a census? Consider the sampling distribution of given in Table 7.5. a. Calculate the value µ of using the formula µ = ∑P(). Is the value of µ calculated in Exercise 7.6 the same as the value of µ calculated here? b. ...According to an estimate, the average age at first marriage for men in the United States was 28.2 years in 2010 (Time, March 21, 2011). Suppose that currently the mean age for all U.S. men at the time of first marriage is ...Let x be a continuous random variable that has a normal distribution with µ = 75 and σ = 14. Assuming n/N < .05, find the probability that the sample mean, , for a random sample of 20 taken from this population will be a. ...The times that college students spend studying per week have a distribution that is skewed to the right with a mean of 8.4 hours and a standard deviation of 2.7 hours. Find the probability that the mean time spent studying ...
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