Suppose that you are interested in determining the average height of a person in a large city. You begin by collecting the heights of a random sample of 256 people from the city. The average height of your sample is 64 inches, while the standard deviation of the heights in your sample is 4 inches. The standard error of your estimate of the average height in the city is (0.0001, 64, 0.25, 0.0156)
Suppose that you are interested in determining the average height of a person in a large city. You begin by collecting the heights of a random sample of 256 people from the city. The average height of your sample is 64 inches, while the standard deviation of the heights in your sample is 4 inches. The standard error of your estimate of the average height in the city is (0.0001, 64, 0.25, 0.0156)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose that you are interested in determining the average height of a person in a large city.
You begin by collecting the heights of a random sample of 256 people from the city.
The average height of your sample is 64 inches, while the standard deviation of the heights in your sample is 4 inches.
The standard error of your estimate of the average height in the city is (0.0001, 64, 0.25, 0.0156)
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