Question

A random sample of size n=523 from a population whose parameter is p=0.7.

1. What is the mean of the distribution of sample means? Round the answer accurate to 2 decimal places.
   
2. What is the standard deviation of the distribution of sample means? Round the answer accurate to 2 decimal places.

Answer 1

     

Solution

Given that,

p = 0.7

1 - p = 1-0.7=0.3

n = 523

mean of the distribution of sample mean

= p =0.7

standard deviation of the distribution of sample means

=  [p ( 1 - p ) / n] =   [(0.7*0.3) / 523 ] = 0.02

P( < ) =