According to the Project on Student Debt, the average student loan for college graduates of the class

Question:

According to the Project on Student Debt, the average student loan for college graduates of the class of 2010 was $25,000 (USA TODAY, April 24, 2012). Suppose that the student loans for all college graduates of the class of 2010 have a mean of $25,000 and a standard deviation of $6280. Let x̅ be the average student loan of a random sample of 400 college graduates from the class of 2010. Find the mean and standard deviation of the sampling distribution of x̅.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...