cult of Economics & Finance Dr. Khalid Kisswani ECO-380: Business Statistics Room: N1-116 GUST Tel: 2530-7339 kisswani.k@gust.edu.kw Assignment 2 (LO i) 1. A simple random sample of 100 observations was taken from a large population. The sample mean and the standard deviation were determined to be 80 and 12 respectively. The standard error of the mean is a. 1.20 b. 0.12 C. 8.00 d. 0.80 ANS: A 2. A population has a standard deviation of 16. If a sample of size 64 is selected from this population, what is probability that the sample mean will be within 12 of the population mean? a. 0.6826 b. 0.3413 C. -0.6826 d. Since the mean is not given, there is no answer to this question. ANS