By treating the following as finite and infinite samples comment on the standard errors: (a) Find the
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By treating the following as finite and infinite samples comment on the standard errors:
(a) Find the sample mean and standard error for random samples of 1000 accounts if bank A has 5024 saving accounts with an average in each account of £512 and a standard deviation of £150;
(b) Find the sample mean and standard error for random samples of 1000 accounts if bank A has 10,244 saving accounts with an average in each account of £564 and a standard deviation of £150.
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To analyze the standard errors in the given scenarios we need to consider the sample sizes and the c...View the full answer
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