MediumSampling distributions

OpenStax, Introductory Business Statistics 2e §7.2 Using the Central Limit Theorem · Exercise 36 · Statistics · Sampling distributions

Using the Central Limit Theorem · Exercise 36

A researcher looks at a large set of data, and concludes the population has a standard deviation of 40. Using sample sizes of 64, the researcher is able to focus the mean of the means of the sample to a narrower distribution where the standard deviation is 5. Then, the researcher realizes there was an error in the original calculations, and the initial standard deviation is really 20. Since the standard deviation of the means of the samples was obtained using the original standard deviation, this value is also impacted by the discovery of the error. What is the correct value of the standard deviation of the means of the samples?

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OpenStax, Introductory Business Statistics 2e · §7.2 Using the Central Limit Theorem · Exercise 36

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