Question

Suppose the charge for rental insurance has an average of $25.61 per month. An insurance broker, not knowing this average, randomly selects some clients to determine the average cost of rental insurance. The sampled results are as follows:

$22.88 $30.15 $28.11 $24.44 $20.69 $21.57

1. What is the sampling error of this data as it compares to the population mean?

2. Suppose the point of $20.69 was incorrectly recorded and should have been $26.09. What type of error does this represent? (1 mark)

3. If that error is rectified, what is the new sampling error of the mean?

please provide correct answer as soon as possible.

Answer 1

sampling error is

where sigma is the standard deviation and n sample size

a)

b) this is a Blunder ( It is an outright mistake. A person may record a wrong value, misread a scale)

c)