Question

The mean monthly out-of-pocket cost of prescription drugs for all senior citizens in a particular city is 520 dollars with a standard deviation of $72 -x be the mean of such costs for a random sample of 25 senior citizens from this city. Find the mean and standard deviation of the sampling distribution of x- -x. Let x

Answer 1

Therefore, the mean of the sampling distribution of x(bar) is 520 dollars and the standard deviation of the sampling distribution x(bar) is 14.4 dollars.

Explanation:

Detail explanation is below