Question

You may need to ase the appropriate appendix table or technology to answer this question, A population of 1,000 students spends an awerage of $10.40 a day on dinner. The standard deviation of the expenditure is $4. A simple random sample of 64 students is taker (a) What is the expected value (in dollars) of the sampling distribution of the sample mean? $ What is the standard deviation (in dollars) of the sampling distribution of the sample mean?

Answer 1

The expected value of the sampling distribution of the sample mean is $10.40. The standard deviation of the sampling distribution of the sample mean is $0.50.

Step-by-step explanation:

To find the expected value of the sampling distribution of the sample mean, we need to use the formula:

Expected Value = Mean of the population = $10.40

So, the expected value of the sampling distribution of the sample mean is $10.40.

To find the standard deviation of the sampling distribution of the sample mean, we need to use the formula:

Standard Deviation = Standard Deviation of the population / Square Root of Sample Size

Standard Deviation = $4 / √64 = $0.50

So, the standard deviation of the sampling distribution of the sample mean is $0.50.