Results 1 to 3 of 3

Math Help - What is the mean?

  1. #1
    Newbie
    Joined
    Jun 2006
    Posts
    16

    What is the mean?

    5. Suppose that the average assessed values of single family dwellings in a large municipality of $165,000 with a standard deviation of $20,000.
    a. If a random sample of n = 100 dwellings is selected and the , the average assessed value of these dwellings is calculated, what is the mean in repeated sampling?
    b. What is the standard deviation of ?
    (All the symbols that are missing are the sample mean. (the x bar)
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Grand Panjandrum
    Joined
    Nov 2005
    From
    someplace
    Posts
    14,972
    Thanks
    4
    Quote Originally Posted by bombo31
    5. Suppose that the average assessed values of single family dwellings in a large municipality of $165,000 with a standard deviation of $20,000.
    a. If a random sample of n = 100 dwellings is selected and the , the average assessed value of these dwellings is calculated, what is the mean in repeated sampling?
    The mean of sample means is the same as the population mean so in
    this case is $165,000

    b. What is the standard deviation of ?
    (All the symbols that are missing are the sample mean. (the x bar)
    The standard deviation of sample means (usualy called the standard error)
    is \sigma/\sqrt{n}, where \sigma is the population SD, and n is the sample size.

    So here it is $20000/10=$2000.


    RonL
    Follow Math Help Forum on Facebook and Google+

  3. #3
    Newbie
    Joined
    Jun 2006
    Posts
    16

    Mean

    Thanks a lot. You make understanding this so much easier.
    Follow Math Help Forum on Facebook and Google+


/mathhelpforum @mathhelpforum