The time that people have to wait for an elevator in an office building has a uniform distribution over the interval from 0 to 1 minute For this distribution, 0 5 and 0 289 a Let be the average waiting time for a random sample of 16 waiting times What are the mean and standard deviation of the samp...

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The time that people have to wait for an elevator in an office building has a uniform

Question:

The time that people have to wait for an elevator in an office building has a uniform over the interval from 0 to 1 minute. For this μ = 0.5 and σ = 0.289.
a. Let be the average waiting time for a random sample of 16 waiting times. What are the mean and standard deviation of the sampling of ?
b. Answer Part (a) for a random sample of 50 waiting times. Draw a picture of the approximate sampling of when n = 50. Sect ion 12.1 Exercise Set 2 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...