Suppose you select a random sample of 16 students from a population that has mean of µ = 75 and standard deviation of ơ = 20. You want to know what would be considered a ‘typical’ sample mean for a sample of n = 16. To answer your question, you compute the two sample means that define the middle 95% of the distribution of sample means. Show your work, sketch the distribution, and shade in the area of interest. Hint: Sample means that are in the extreme 5% of the distribution (2.5% in each tail of the distribution) are considered ‘atypical’ or ‘extreme
Suppose you select a random sample of 16 students from a population that has mean of µ = 75 and standard deviation of ơ = 20. You want to know what would be considered a ‘typical’ sample mean for a sample of n = 16. To answer your question, you compute the two sample means that define the middle 95% of the distribution of sample means. Show your work, sketch the distribution, and shade in the area of interest. Hint: Sample means that are in the extreme 5% of the distribution (2.5% in each tail of the distribution) are considered ‘atypical’ or ‘extreme
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose you select a random sample of 16 students from a population that has mean of µ = 75 and standard deviation of ơ = 20. You want to know what would be considered a ‘typical’ sample mean for a sample of n = 16. To answer your question, you compute the two sample means that define the middle 95% of the distribution of sample means. Show your work, sketch the distribution, and shade in the area of interest. Hint: Sample means that are in the extreme 5% of the distribution (2.5% in each tail of the distribution) are considered ‘atypical’ or ‘extreme.’
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