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A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain’s new store in the mall. Fifteen credit card accounts were randomly sampled and analyzed with the following results: x-bar = $50.50 and s2 = 400 . Assuming the distribution of the amount spent on their first visit is approximately normal, what is the shape of the sampling distribution of the sample mean that will be used to create the desired confidence interval for \mu ?
a) Approximately normal with a mean of $50.50
b) A standard normal distribution
c) A t distribution with 15 degrees of freedom
d) A t distribution with 14 degrees of freedom

Sagot :

The value of the standard deviation does not change and remains the same.

Given, a retired statistic professor has recorded final exam results for decades. the mean final exam score for the population of a student is 82.4 with a standard deviation of 6.5.

The mean μ = 82.4

The standard deviation σ = √[ ((x - μ)2 + (y - μ)2 + (z - μ)2)/3 ]

we have to find the variance,

We now add a constant k to each data value and calculate the new mean μ'.

μ' = ((x + k) + (y + k) + (z + k)) / 3 = (x + y + z) / 3 + 3k/3 = μ + k

We now calculate the new mean standard deviation σ'.

σ' = √[ ((x + k - μ')2 +(y + k - μ')2+(z + k - μ')2)/3 ]

Note that x + k - μ' = x + k - μ - k = x - μ

also y + k - μ' = y + k - μ - k = y - μ and z + k - μ' = z + k - μ - k = z - μ

Therefore σ' = √[ ((x - μ)2 +(y - μ)2+(z - μ)2)/3 ] = σ

If we add the same constant k to all data values included in a data set, we obtain a new data set whose mean is the mean of the original data set PLUS k. The standard deviation does not change.

Hence, the standard deviation does not change.

Learn more about Standard Deviation and Mean here https://brainly.com/question/26941429

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