Suppose you were to draw all possible samples of size 81 from a large population with a mean () of 54 0 and a standard deviation () of 18 0 You then compute the mean (x) for each sample From the long list of sample means that results, you want to create the sampling distribution of the sample mean,...

a The sampling distribution will be approximately normal b The distribution should b ...

Suppose you were to draw all possible samples of size 81 from a large population with a

Question:

Suppose you were to draw all possible samples of size 81 from a large population with a mean (µ) of 54.0 and a standard deviation (σ) of 18.0. You then compute the mean (x) for each sample. From the long list of sample means that results, you want to create the sampling distribution of the sample mean, which will assign probabilities to all the possible values of x.

a. Sketch a graph of the sampling distribution you would expect to produce.

b. What value should you show at the center of the distribution?

c. What is the standard deviation (standard error of the mean) of this distribution?

d. What % of the sample means in the sampling distribution would be between 50 and 52? Between 50 and 58? Greater than 59?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...