1 A) The sampling distribution of the mean is defined as the: B) The weekly pric

Question

1 A) The sampling distribution of the mean is defined as the:

B) The weekly price fluctuation of WMB stock has a mean of $4.18 and a standard deviation of $0.46. A sample of 132 weekly price fluctuations for this stock have been measured and the mean has been calculated.

Calculate the standard error of the mean (X). Give your answer to 3 decimal places.

X = ____$

C) Loony Park has a new adult ride that holds 25 people. The maximum weight that the ride can carry is 4,346.75lb. The weight of adults has a mean of 161.24lb and a standard deviation of 21.11lb.

Calculate the probability that a random group of 25 people will overload the maximum weight that the ride can carry. This is equivalent to calculating the probability that the mean weight of 25 adults would exceed 173.87lb (being 4,346.75lb divided by 25). Give your answer as a decimal to 4 decimal places.

probability = ____

a) mean of sample data that has been collected from a simple random sample b) distribution of data that has been collected from a simple random sample c) mean of sample data that follows a normal distribution d) distribution of the sample means of all possible samples of a certain size

Explanation / Answer

a)d) distribution of the sample means of all possible samples of a certain size

b)standard error of the mean (X) =population std deviation/(n)1/2 =0.46/(132)1/2 =0.040

c)

for normal distribution z score =(X-)/ here mean=       = 161.240 std deviation   == 21.110 sample size       =n= 25 std error=x=/n= 4.2220 probability = P(X>173.87) = P(Z>2.99)= 1-P(Z<2.99)= 1-0.9986= 0.0014

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