A sample of n=200 participants is selected from a large population. The average income of the 200

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A sample of n=200 participants is selected from a large population. The average income of the 200 participants is $54000 with sample standard deviation $22,000. a) It is reasonable to assume that the annual income in the population is normally or approximately normally distributed. b) It is reasonable to assume that the sampling distribution of the mean will vary according to a Normal distribution. c) Another name for the standard error is the standard deviation of the xbars. d) The standard error in this scenario is $22,000/200. e) Averages vary about the same amount as the raw values. In other words, the standard error and standard deviation are usually very close together

Posted Date: May 18, 2024 03:14 PM

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A sample of n=200 participants is selected from a large population. The average income of the 200

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