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According to the National Science Foundation, individuals who graduated in 2010 with a doctoral degree had...

According to the National Science Foundation, individuals who graduated in 2010 with a doctoral degree had an average of $14,115 graduate debt. Assume that the standard deviation of graduate debt is $26,400. If we take lots of samples of individuals who graduated in 2010 with a doctoral degree, what would you expect the mean and standard error of the distribution of sample mean graduate debt amounts to be in each case? In each case, use two decimal places when reporting your standard error.

a) n = 500 individuals

b) n = 200 individuals

Math   Statistics-And-Probability   
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