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At a large university students have an average credit card debt of $2,600 with a standard...

At a large university students have an average credit card debt of $2,600 with a standard deviation of $1,400. A random sample of students is selected and interviewed about their credit card debt. If we imagine all the possible random samples of 200 students at this university, approximately 68% of the samples should have means between what two numbers?

Math   Statistics-And-Probability   
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Answer #1

Mean = = 2,600

SD = = 1,400

SE = /

     = 1,400/ = 98.9949

By 68 - 95 - 99.7 Rule, 68% of data fall within .

Thus, Approximately 68% of the samples should have means between the numbers:

$2,501.01 and $2,698.99

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