Answer:
Expected Value of M is 50 and the Standard Error of M is 3
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, also called standard error 
.
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:
µ = 50 and σ = 18
For the sample
Mean 50 and standard error 
.
The answer is:
Expected Value of M is 50 and the Standard Error of M is 3
Step-by-step explanation:
Firstly, compound interest is defined as:
Where:
a = final amount
p = principal (original amount)
r = decimal rate of interest
n = repetitions per annum
t = number of years
Knowing this, we replace for the values stipulated and solve.
A. $13,370.07
B. $12180.87
It is 8 -(- means you add, rather than subtracting
