Question

The PC Magazine shows that the mean price for liquid crystal display (LCD) computer monitors is $200 with a standard deviation of $30. If 9 LCD computer monitors are randomly selected, then the distribution of the sample mean price is

Answer 1

Given that, The PC Magazine shows that the mean price for liquid crystal display (LCD) computer monitors is $200 with a standard deviation of $30. Now 9 LCD computer monitors are randomly selected.

Now we want compute the distribution of sample mean price.

Sample mean defined as,

[where, n = number of sample observations = 9 and Xi = value of ith sample observations]

Now we find , and

Answer:- So the distribution of sample mean price is given by, Sample mean price distributed with mean = $200 and standards deviation = $10