Maria invests $8,000 in a bank account, which pays 9% annual interest, compounded yearly. What will be Maria's account balance a
2 answers:
You might be interested in
Answer:
5
Step-by-step explanation:
The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean and standard deviation
, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean
and standard deviation
.
For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.
In this problem, we have that:
On average, how much error would be expected between the sample mean and the population mean?
This is the standard deviation of the sample. We have that . So
The answer is 5.