document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=344428>Question 344428</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Assume that the SD of monthly rent paid by student in a particular town is $40. A random sample of 100 <BR>\n" );
document.write( "students was taken  to estimate the mean monthly  rent paid by the whole student population.<BR>\n" );
document.write( "a)	What is the standard error of sample mean rent?<BR>\n" );
document.write( "b)	What is the probability that the sample mean exceeds the population mean by more than %5.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #246389 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=246389\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Assume that the SD of monthly rent paid by student in a <BR>\n" );
document.write( "particular town is $40. <BR>\n" );
document.write( "A random sample of 100 students was taken to estimate <BR>\n" );
document.write( "the mean monthly rent paid by the whole student population.<BR>\n" );
document.write( "-----------------------<BR>\n" );
document.write( "a) What is the standard error of sample mean rent?<BR>\n" );
document.write( "Ans: 40/sqrt(100) = 40/10 = 4<BR>\n" );
document.write( "----------------------------------------\r<BR>\n" );
document.write( "\n" );
document.write( "b) What is the probability that the sample mean exceeds the population mean by more than %5.<BR>\n" );
document.write( "The mean of the sample means and the mean of the population <BR>\n" );
document.write( "are the same according to the Central Limit Theorem.<BR>\n" );
document.write( "----<BR>\n" );
document.write( "45% of the sample means are to the right of a point that is<BR>\n" );
document.write( "is 5% to the right of the mean.<BR>\n" );
document.write( "------------------<BR>\n" );
document.write( "Ans: 45%<BR>\n" );
document.write( "==============<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );