The average income in a state was $74,000 per person per year. Suppose the stand

Question

The average income in a state was $74,000 per person per year. Suppose the standard deviation is $38,000 and the distribution is right-skewed. Suppose we take a random sample of 100 residents of the state. Complete parts (a) and (b) below. a. What value should we expect for the sample mean? Why? The expected sample mean is S because the Type a whole number.) b. What is the standard error for the sample mean? The standard error for the sample mean is s Type an integer or a decimal. Do not round.)

Explanation / Answer

a) The expected sample mean is 74000 because the average income is $74000 (Population mean).

b) Standard error of sample mean is 38000/10=3800

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