Question
Consider the following population:U.S. Census data showing expenditures on maintenance and repairs (in millions of USD) performed bybusinesses in the year 2020 in the sate
Consider the following population:U.S. Census data showing expenditures on maintenance and repairs (in millions of USD) performed bybusinesses in the year 2020 in the sate of NY with the following mean, median and standard deviation: Mean = $20,500 Median = $23,400 Standard deviation = $8,300Instructions: (3 points) If you select samples of size n = 5 from the population described above, describe theshape and properties of the sampling distribution of sample means, X (3 points) If you select samples of n = 250 from the population described above, describe theshape and properties of the sampling distribution of sample means, X (2 points) If you select a random sample of size n=100, what is the probability that the samplemean will be less than $19,000? (2 points) Calculate and interpret the 90% confidence interval for the population mean of all NYstate expenditures on maintenance and repairs. Consider sample size n = 200.Use and present answers with 4 decimals
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