If All the Possible Random Samples with N = 36

question 59

Multiple Choice

If all the possible random samples with n = 36 scores are selected from a normal population with µ = 80 and σ = 18,and the mean is calculated for each sample,what is the average of all the sample means?

• A)2
• B)6
• C)80
• D)Cannot be determined without additional information

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Definitions:

Perfectly Inelastic Demand

A market situation where the quantity demanded does not change irrespective of changes in price.

Downward-Sloping

A graphical representation indicating a decrease or decline in value, often used in economics to describe demand curves.

More Inelastic

Referring to a situation where a product's demand or supply is less responsive to changes in price.

Cross Elasticity

A measure of the responsiveness of the demand for one product in relation to a change in the price of another product.