Major league baseball salaries averaged 3.26 million with a standard deviation of 1.2 million in a recent year. Suppose a sample of 100 major league players was taken. What was the standard error for the sample mean salary?
A) 12 million B) 0.12 million C) 1,200.0 million D) 0.012 million
Q. 2The covariance between two investments is equal to the sum of the variances of the investments.
Indicate whether the statement is true or false
Q. 3Sales prices of baseball cards from the 1960s are known to possess a right skewed distribution with a mean sale price of 5.25 and a standard deviation of 2.80. Suppose a random sample of 100 cards from the 1960s is selected. Describe the sampling distribution for the sample mean sale price of the selected cards.
A) right skewed with a mean of 5.25 and a standard error of 0.28
B) normal with a mean of 5.25 and a standard error of 2.80
C) right skewed with a mean of 5.25 and a standard error of 2.80
D) normal with a mean of 5.25 and a standard error of 0.28
Q. 4Current estimates suggest that 75 of the home-based computers in a foreign country have access to on-line services. Suppose 20 people with home-based computers were randomly and independently sampled. Find the probability that more than 9 of those sampled currently do not have access to on-line services.
What will be an ideal response?
Q. 5The distribution of the number of loaves of bread sold per week by a large bakery over the past 5 years has a mean of 7,750 and a standard deviation of 145 loaves. Suppose a random sample of n = 40 weeks has been selected. What is the approximate probability that the mean number of loaves sold in the sampled weeks exceeds 7,895 loaves?
What will be an ideal response?
Q. 6Current estimates suggest that 75 of the home-based computers in a foreign country have access to on-line services. Suppose 20 people with home-based computers were randomly and independently sampled. Find the probability that fewer than 10 of those sampled currently have access to on-line services.
What will be an ideal response?
Q. 7The average score of all pro-golfers for a particular course has a mean of 70 and a standard deviation of 3.0. Suppose 36 pro-golfers played the course today. Find the probability that the average score of the 36 pro-golfers exceeded 71.
What will be an ideal response?
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