Suppose a Sample of N = 50 Items Is Selected

question 11

Multiple Choice

Suppose a sample of n = 50 items is selected from a population of manufactured products and the weight,X,of each item is recorded.Prior experience has shown that the weight has a probability distribution with μ = 6 ounces and σ= 2.5 ounces.Which of the following is true about the sampling distribution of the sample mean if a sample of size 15 is selected?

• A)The mean of the sampling distribution is 6 ounces.
• B)The standard deviation of the sampling distribution is 2.5 ounces.
• C)The shape of the sampling distribution is approximately normal.
• D)All the above are correct.

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Definitions:

Downward-Sloping Demand

The economic principle that, all else being equal, as the price of a good or service decreases, consumer demand for it will increase.

Equilibrium Price

The price at which the quantity of a product offered for sale equals the quantity of the product in demand.

Assembly Line Technology

A manufacturing process in which parts are added to a product in a sequential manner to create a finished product faster and more efficiently.

Recession

A period of decline in economic activity lasting more than a few months, as reflected by falling output, employment, income, and other aggregate measures.