Find the variance of the sample mean of random numbers

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Reference no: EM13274761

A calculator with a random number generator produces the following sequence of random numbers: 0.276, 0.123, 0.072, 0.324, 0.815, 0.312, 0.283, 0.717.

a) Find the sample mean.

b)If the calculator produces three digit random numbers that are uniformly distributed between 0.000 and 0.999, find the variance of the sample mean.

c) How large should the sample size be in order to obtain a sample mean whose standard deviation is no greater than 0.01?

Reference no: EM13274761

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