What is the standard deviation of the sample mean

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Reference no: EM137715

1. Incomes in a certain town are strongly-right skewed with mean $36000 and standard deviation $7000. A random sample of 10 households is taken. What is the probability the average of the sample is more than $38000?

A. 0.3875
B. 0.1831
C. Cannot say

2. Incomes in a certain town are strongly right-skewed with mean $36000 and standard deviation $7000. A random sample of 75 households is taken. What is the standard deviation of the sample mean?

A. $808.29
B. $93.33
C. $7000

3. Incomes in a certain town are strongly right-skewed with mean $36000 and standard deviation $7000. A random sample of 75 households is taken. What is the probability the sample mean is greater than $37000?

A. 0.4432
B. 0.1075
C. 0

Reference no: EM137715

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