Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year)
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Answer:
The mean is 0.54 and the standard deviation is 0.0135.
Step-by-step explanation:
i) the mean of the sampling distribution is 0.54
ii) the mean for the sampling distribution, p = 0.54
iii) therefore for the sampling distribution, q = ( 1 - 0.54) = 0.46
iv) the sample size of the distribution, n = 1356
v)