Saving and Spending In this open response, you will be managing a checkbook and savings account.
1 answer:
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Answer:
The standard deviation of the sample mean is 4 minutes
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:
The standard deviation of the population is 32.
Sample of 64.
So
The standard deviation of the sample mean is 4 minutes