Answer:
mean of the sample μ₁ = $0.27
Standard deviation of the sample σ₁ = $0.83
Step-by-step explanation:
<u><em>Step(i)</em></u>:-
given mean of the population 'μ' = $19.67
Mean of the sample
<em>Mean of the sample μ₁ = 0.27</em>
<u><em>Step(ii)</em></u>:-
Given standard deviation of the population (σ) = $7.02
Standard deviation of sample
<em>Standard deviation of sample = 0.827≅ 0.83</em>
<u><em>Final answer:</em></u>-
mean of the sample μ₁ = $0.27
Standard deviation of the sample σ₁ = $0.83