A Continuous Random Variable X Has a Left-Skewed Distribution with a Mean

question 45

Multiple Choice

A continuous random variable x has a left-skewed distribution with a mean of 130 and a standard deviation of 22.The sampling distribution of the sample mean for a sample of 16 elements taken from this population is:

• A)approximately normal
• B)normal
• C)skewed to the right
• D)skewed to the left

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Definitions:

Endowment Effect

A mental occurrence in which individuals attribute increased worth to objects simply because they possess them.

Losses

Negative financial results stemming from expenses exceeding revenues or from decreases in asset values.

Gains

The benefits or profits gained from a particular activity or financial transaction.

Status-Quo Bias

Status-quo bias is the preference to keep things the same or maintain a current or previous decision.