Question

1. It is known that the population mean student loan expense for graduates at a college...

1. It is known that the population mean student loan expense for graduates at a college is $48, 450 with a population standard deviation of $ 26,430. Describe the sampling distribution for samples of 50 graduates from this college.

Math   Statistics-And-Probability   
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Answer #1

Solution:

Given that ,

= 48450

= 26430

A sample of size n = 50 is taken from this population.

Let be the mean of sample.

The sampling distribution of the is approximately normal with

Mean = = 48450

SD =      = 26430 / ​50 = 3737.76644535  

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