The distribution of the amount of money in savings accounts

Reference no: EM13610369

The distribution of the amount of money in savings accounts for University of Alabama students has an average of 950 dollars and a standard deviation of 1,000 dollars. Suppose that we take a random sample of 4 University of Alabama students and ask them how much they have in their savings account. The sampling distribution of the sample mean amount of money in a savings account is

A) approximately Normal, with a mean of 950 and a standard error of 1000

B) approximately Normal, with a mean of 950 and a standard error of 500

C) approximately Normal with an unknown mean and standard error

D) not approximately normal

Reference no: EM13610369

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