Reply With Quote(b) std error of the mean is the std dev divided by the square root of n
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
o=650
n=100
(b) std error of the mean is the std dev divided by the square root of n
So b) is 65
How am I supposed to find the mean of the samples when there arent any samples?
the mean of the samples will be equal to the mean of the population
So the mean of the samples would be 7500?
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