The price of an item yesterday was $140. Today, the price fell to $63. Find the percentage increase.
1 answer:
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Answer:
the mean and standard error of the mean are 200 and 2 respectively.
Step-by-step explanation:
Given that ;
the sample size n = 81
population mean μ = 200
standard deviation of the infinite population σ = 18
A population is the whole set of values, or individuals you are interested in, from an experimental study.
The value of population characteristics such as the Population mean (μ), standard deviation (σ) are said to be known as the population distribution.
From the given information above;
The sample size is large and hence based on the central limit theorem the mean of all the means is same as the population mean 200.
i.e
= 200
∴ The mean = 200
and the standard error of the mean can be determined via the relation:
Therefore ; the mean and standard error of the mean are 200 and 2 respectively.