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.

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Mathematics

Linda Trevino

11 July, 04:04

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.

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Gypsy · Answer 1

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.

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