Question

A car manufacturer produced 5,000 cars for a limited edition model. Dealers sold all of these cars at mean price

of $36,000 with a standard deviation of $3,000. Suppose we were to take random samples of 9 of these cars
and calculate the sample mean price x for each sample.

Answer 1

μₓ = 36,000 dollars

σ ₓ= 1,000 dollars

Show work:

to find μₓ = 36,000 dollars:

Look in the question, it states that the mean is $36,000.

to find σ ₓ= 1,000 dollars:

`(3000)/(√(9) ) = 1000`