100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
MATH225 Week 5 Assignment / MATH 225N Week 5 Assignment / MATH 225 Week 5 Assignment / MATH225N Week 5 Assignment: Central Limit Theorem for Means (Latest, 2022): Chamberlain College of Nursing |Verified and 100% Correct Q & A|$15.49
Add to cart
MATH225 Week 5 Assignment / MATH 225N Week 5 Assignment / MATH 225 Week 5 Assignment / MATH225N Week 5 Assignment: Central Limit Theorem for Means (Latest, 2022): Chamberlain College of Nursing |Verified and 100% Correct Q & A|
3 views 0 purchase
Course
MATH225 / MATH 225N
Institution
Chamberlain College Of Nursing
MATH225 Week 5 Assignment / MATH 225N Week 5 Assignment / MATH 225 Week 5 Assignment / MATH225N Week 5 Assignment: Central Limit Theorem for Means (Latest, 2022): Chamberlain College of Nursing |Verified and 100% Correct Q & A|
MATH 225 Week 5 Assignment: Central Limit Theorem for Means (Latest)...
math225 week 5 assignment math 225n week 5 assignment math 225 week 5 assignment math225n week 5 assignment central limit theorem for means latest
2022 chamberlain college of nursing |verif
Written for
Chamberlain College Of Nursing
MATH225 / MATH 225N
All documents for this subject (27)
Seller
Follow
waldenquiz
Reviews received
Content preview
,
, By the Central Limit Theorem, the means of the two distributions are the same:
μx¯=μ=2,500,000
To find the Standard Deviation of the sampling distribution, we divide the population
standard deviation by the square root of the sample size:
σx¯=σn−−√=625,00050−−√≈88,388
3. Question
A bank is reviewing its risk management policies with regards to mortgages. To
minimize the risk of lending, the bank wants to compare the typical mortgage owed by
their clients against other homebuyers. The average mortgage owed by Americans is
$306,500, with a standard deviation of $24,500. Suppose a random sample of
150Americans is selected.
Identify each of the following, rounding your answers to the nearest cent when
appropriate:
We are given population mean μ=$306,500and population standard deviation
σ=$24,500, and want to find the mean and standard error of the sampling
distribution, μx¯and σx¯for samples of size n=150.
By the Central Limit Theorem, the means of the two distributions are the same:
μx¯=μ=$306,500
To find the Standard Deviation of the sampling distribution, we divide the population
standard deviation by the square root of the sample size:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller waldenquiz. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
