According to the Central Limit Theorem, If a Sample of Size

question 98

Multiple Choice

According to the central limit theorem, if a sample of size 64 is drawn from a population with a mean of 56, the mean of all sample means would equal ___.

• A)7.00
• B)56.00
• C)64.00
• D)0.875
• E)128.00

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Definitions:

Comparative Advantage

The ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity.

Absolute Advantage

The ability of a country, individual, or firm to produce more of a good or service with the same amount of resources compared to others.

Trade

The exchange of goods and services between parties, which can be within or across national borders.

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, resulting in a negative balance of trade.