According to a Bureau of Labor Statistics release of March 25, 2015, statisticians earn an average of
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According to a Bureau of Labor Statistics release of March 25, 2015, statisticians earn an average of $84,010 a year. Suppose that the current annual earnings of all statisticians have the mean and standard
deviation of $84,010 and $20,000, respectively, and the shape of this distribution is skewed to the right. Let x be the average earnings of a random sample of a certain number of statisticians. Calculate the mean and standard deviation of x and describe the shape of its sampling distribution when the sample size is
a. 20
b. 100
c. 800
DistributionThe 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...
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84010 and 20000 a Since the population has an unknown distributi...View the full answer
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