STATISTICAL TECHNIQUES AND TOOLS
SAMPLING DISTRIBUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The average cost for a gallon of gasoline is $2.51 (source AAA.org) with a standard deviation of $0.42. These prices are strongly right-skewed. What is the shape of the sampling distribution if n = 49?
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Strongly Right Skewed
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Approximately Bell Shaped
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Roughly Uniform
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Strongly left skewed
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Explanation:
Detailed explanation-1: -The sampling distribution of p is approximately normally distributed if N is fairly large and is not close to 0 or 1. A rule of thumb is that the approximation is good if both N and N(1-) are greater than 10.
Detailed explanation-2: -The central limit theorem equation to calculate the mean of the sample is: xˉ= x ̄ = , where refers to the population mean and xˉ x ̄ represents the sample mean. This equation basically states that the mean of the population can be used as the mean of the sample.
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