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Hello I need help answering these 2 questions for Sunday 9/30/18 please help! 1-Suppose we repeatedly took samples of size 25 households, averaged
Hello I need help answering these 2 questions for Sunday 9/30/18 please help!
1-Suppose we repeatedly took samples of size 25 households, averaged their incomes, and recorded
these means in a histogram. Sketch a reasonable distribution that would fit this histogram. Indicate
the mean and standard deviation on your sketch. Explicitly state the values of the mean and the
standard deviation of this sample-mean distribution.
2- Suppose I take a sample of Utica households and before I begin calculating the mean of their incomes
I tell you that there is a probability of 1.66% that the sample mean will be greater than $52,500.
Use this information to determine how many households are in my sample