View Full Version : Mean, standard error of mean
01-23-2006, 11:43 AM
Bank officials claim that the average amount of money in savings accounts at all branches of the Commerce Bank is $7500, with a standard deviation of $650. Many random samples of size 100 are taken. Find:
a)the mean of these samples
b)the standard error of the mean
a) u= 7500
01-23-2006, 11:48 AM
(b) std error of the mean is the std dev divided by the square root of n
01-23-2006, 11:54 AM
So b) is 65
How am I supposed to find the mean of the samples when there arent any samples?
01-23-2006, 12:04 PM
the mean of the samples will be equal to the mean of the population
01-23-2006, 12:11 PM
So the mean of the samples would be 7500?
Powered by vBulletin™ Version 4.1.3 Copyright © 2013 vBulletin Solutions, Inc. All rights reserved.