The average income in the District of Columbia in 2013 was $76,000 per person per year Suppose the standard deviation is $35,000 and the distribution is right skewed Suppose we take a random sample of 100 residents of D C a Is the sample size large enough to use the Central Limit Theorem for means ...

a Yes the sample is large n 100 25 and so the distribution of ...

The average income in the District of Columbia in 2013 was $76,000 per person per year. Suppose

Question:

The average income in the District of Columbia in 2013 was $76,000 per person per year. Suppose the standard deviation is $35,000 and the is right skewed. Suppose we take a random sample of 100 residents of D.C.
a. Is the sample size large enough to use the Central Limit Theorem for means? Explain.
b. What are the mean and standard error of the sampling Refer to Exercise 9.9.
c. What is the probability that the sample mean will be more than $3500 away from the population mean?
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...