Question: The following data summarize the 2009 external debt (in millions of dollars) for seven countries. a. Assume that ÏY = 93,500. Calculate the standard error

The following data summarize the 2009 external debt (in millions of dollars) for seven countries.

a. Assume that ÏƒY = 93,500. Calculate the standard error and interpret.
b. Write a report wherein you discuss the following: the standard error compared with the standard deviation of the population, the shape of the sampling distribution, and suggestions for reducing the standard error.

Country Brazil Chile Colombia India Mexico South Africa Turkey Debt (in millions of dollars) 276,900 71,600 52,200 237,700 192,000 42,100 251,400

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