For a Continuous Random Variable X,the Population Mean and the Population

question 67

Short Answer

For a continuous random variable x,the population mean and the population standard deviation are 69 and 15,respectively.Assuming ,the standard deviation of the sampling distribution of the sample mean for a sample of 16 elements taken from this population,rounded to two decimals,is:

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Definitions:

Excise Tax

A tax levied on specific goods or services, such as alcohol, tobacco, and gasoline.

Elastic Supply

A situation where the quantity supplied of a good changes significantly in response to changes in its price.

Elastic Demand

a situation where the quantity demanded of a good or service significantly changes in response to a change in price.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price.