Which of the Following Statements About the Sampling Distribution of the Sample

question 42

Multiple Choice

Which of the following statements about the sampling distribution of the sample mean is incorrect?

• A) The mean of the sampling distribution is \(\mu\).
• B) The sampling distribution is generated by repeatedly taking samples of size \(n\) and computing the sample means.
• C) The standard deviation of the sampling distribution is \(\sigma\).
• D) The sampling distribution is approximately normal whenever the sample size is sufficiently large \(( n \geq 30 )\).

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Definitions:

Competitive Equilibrium Price

The market price at which the quantity of an item supplied is equal to the quantity demanded, within a competitive marketplace.

Endowed

Provided with a quality, ability, or asset; in economics, it often refers to the resources or goods that an individual or institution possesses.

Pareto Optimal Allocation

An economic allocation where it is impossible to make any one individual better off without making at least one individual worse off.

Utility Function

A mathematical representation that assigns a level of utility or satisfaction to various combinations of goods and services consumed by an individual or society.