Question
suppose that the distribution of retirement age in Canada is negatively skewed. The distribution mean has a mean of 65, and a variance of 16.
suppose that the distribution of retirement age in Canada is negatively skewed. The distribution mean has a mean of 65, and a variance of 16.
A) for a random sample of n =81 retired Canadians, what is the probability that the average age of retirement in the sample is less than 64.5?
B) for a random sample of n = 81 retired Canadians, what is the probability that the average age of retirement in the sample is between 65 and 66 ?
C) At what age would have at least 90% of the individuals in the sample retired? In other words, what is the 90th percentile for a random sample of n=81 retired Canadians ?
D) everything else being equal, how would an increase in sample size affect the standard error of the mean ?
E) everything else being equal, how would an increase in sample size influence standard deviation ?
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