Question: Using the same scenario, suppose a random sample of 36 was selected. Construct/draw the theoretical sampling distribution of the mean for an N of 36.

  1. Using the same scenario, suppose a random sample of 36 was selected.
    1. Construct/draw the theoretical sampling distribution of the mean for an N of 36. What is its mean? What is its standard deviation (i.e., standard error)?
    2. If using a sample of 36, what is the probability of selecting an income of $33,000 or above?
    3. If using a sample of 36, what is the probability of selecting an income of $28,000 or below?
    4. If using a sample of 36, what income represents the threshold of the highest 5% of expected mean incomes? (i.e., what income represents the 95th percentile in the distribution of sample mean incomes?)
    5. If using a sample of 36, what income represents the threshold of the lowest 5% of expected mean incomes? (i.e., what income represents the 5th percentile in the distribution of samples mean incomes?)

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