Answer:
Mean =25.78
Median =20
Step-by-step explanation:
given that the following list contains the average annual total returns (in percentage points) for 9 mutual funds. The mutual funds appear in an online brokerage firm's "all-star" list.
40, 30, 6, 10, 30, 18, 15, 20, 36
Let us find the sum of these 9 entries
Sum = 205
a) Mean =
b) Median of this data set is the middle entry after arranging in ascending order
Here it would be the 5th entry
6,10, 15, 18,20, 30, 30, 36, 40
Median = 20
Answer:
Approximately normal for large sample sizes
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 question:
The distribution is unknown, so the sampling distribution will only be approximately normal when n is at least 30.
So the correct answer should be:
Approximately normal for large sample sizes