What distribution describes the result of sampling 20 people with cellular phones Use the rule of thumb that 95 of the distribution lies within two standard deviations of the mean to give a probable range Compare this with the true average of the population Consider again the situation in Exercises...

N40000 20 10 5 by the central limit theorem for averages the variance i ...

What distribution describes the result of sampling 20 people with cellular phones? Use the rule of thumb

Question:

What describes the result of sampling 20 people with cellular phones? Use the rule of thumb that 95% of the lies within two standard deviations of the mean to give a probable range. Compare this with the true average of the population.
Consider again the situation in Exercises 5 and 6, but suppose that incomes for people with cell phones are normally distributed according to N (40000, 4.0 × 106) (measured in 1999 U.S. dollars). The for people without cellular phones is N(20000, 1.0 × 106).
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...