How much was the typical foreclosure check

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Reference no: EM131430793

How much was the typical foreclosure check? The checks sent to Americans in 2013 were in the amount of $300 to $125,000. Suppose a spokesperson from the U.S. Treasury claimed that the mean check amount was $800 with standard deviation $125. A random sample of 40 Americans compensated under this program was obtained. The amount of each check was recorded and the sample mean check amount for these Americans was $755.

a. Find the distribution of the sample mean.

b. Is there any evidence to suggest that the true mean check amount was less than $800?

Reference no: EM131430793

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