IF the sample is i.i.d. (indep and identically distributed), then
..... I mean MOooooo
Suppose you are sampling a population with mean of 1,065 and standard deviation of 500. The sample size is 100. What are the expected value and the variance of the sample mean?
I know how to get expected value, I do not know how to get the variance of the sample mean though, the formula would be so helpful.