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A car manufacturer produced 5.000 cars for a limited edition model Dealers sold all of these cars at mean price of $36,000 with a standard deviation of $3,000. Suppose we were to take random samples of 9 of these cars and calculate the sample mean price for each sample. Calculate the mean and standard deviation of the sampling distribution of .

Sagot :

JeanaShupp

Answer: Mean = $36,000 and standard deviation = $1000.

Step-by-step explanation:

The mean and the standard deviation of the sampling distribution of the sample mean:

[tex]Mean=\mu\\\\Standard\ deviation = \dfrac{\sigma}{\sqrt{n}}[/tex] , where n =sample size.

Here, we are given

[tex]\mu=\$36000,\ \ \sigma=\$3,000[/tex]

n= 9

Then, the mean and the standard deviation of the sampling distribution of the sample mean:

[tex]Mean=\$36000,\ \ Standard\ deviation=\dfrac{3000}{\sqrt{9}}=\dfrac{3000}{3}=\$1000[/tex]

Hence, Mean = $36,000 and standard deviation = $1000.

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