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