Suppose that college students with a checking account typically write relatively few checks in any given month,
Question:
a. Give a sketch of what the population distribution of x might look like.
b. Suppose that the mean value of x is 22.0 and that the standard deviation is 16.5. If a random sample of n = 100 customers is to be selected and denotes the sample mean number of checks written during a particular month, where is the sampling distribution of centered, and what is the standard deviation of the distribution? Sketch a rough picture of the sampling distribution.
c. What is the approximate probability that is at most 20? At least 25?
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...
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