MATH SOLVE

5 months ago

Q:
# Sales prices of baseball cards from the 1960's are known to possess a skewed-right 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 1960's is selected. describe the sampling distribution for the sample mean sale price of the selected cards.

Accepted Solution

A:

Given the following information
about the sales prices of baseball cards from the 1960's:
They are known to possess a
skewed-right distribution
The mean sale price is $5.25
The standard deviation is $2.80.
Β
If a random sample of 100 cards
from the 1960's is selected:
The distribution would be Normal
The mean would be $5.25
The standard error would be $0.28