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A Random Sample of Size 100 Is Drawn from a Population

question 56

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A random sample of size 100 is drawn from a population with a standard deviation of 10.If only 5% of the time a sample mean greater than 20 is obtained, the mean of the population is closest to ______

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Definitions:

Normative Economics

A branch of economics that expresses value judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be.

Economic Behavior

The study of human actions in purchasing, selling, and managing resources, especially in response to economic stimuli or policies.

Prescribed Courses

Courses that are required to be taken to complete a degree or certification program.

Econometrics

The application of statistical and mathematical models to analyze economic data and test hypotheses.

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