document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=880706>Question 880706</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I am going through an assignment and my answers - I have worked out the answer to the question, but not really sure if I have got it right or not.  So ...\r<BR>\n" );
document.write( "\n" );
document.write( "The mean of salaries for a total of 350 staff is:     µ = $50,500<BR>\n" );
document.write( "The standard deviation for the 350 staff members is:  &#963; = $18,800<BR>\n" );
document.write( "(These numbers have been rounded to the nearest $100.00)\r<BR>\n" );
document.write( "\n" );
document.write( "So the question is:      If all possible samples of size 40 were taken from this population, what would you expect the mean and standard deviation of these samples means to be??\r<BR>\n" );
document.write( "\n" );
document.write( "So I have calculated the means to be $49,200 and the standard deviation of $11,000.00, but don't ask me how I did this because after my computer shut down without warning, I couldn't retrieve my unsaved document, and each time I go to do it again to check my answer, I come up with different figures!\r<BR>\n" );
document.write( "\n" );
document.write( "Am in right in ... coming up with a new figure - The sample standard deviation, is the standard deviation of $18800 divided by the square root of the sample figure of 40 to get $2970.00 (rounded to the nearest 100).<BR>\n" );
document.write( "Then ... I am not sure how to go about getting the sample mean - part of me wants to take the mean total of $50500, and take $50500 away from this, and divide it by the original standard deviation of 18800, and then divide by the square root of 40, but this just doesn't seem to make sense - if I did that, my sample mean would be 50499??\r<BR>\n" );
document.write( "\n" );
document.write( "Can someone please point me in the right direction, because the answer to this, is then used in a few other questions.\r<BR>\n" );
document.write( "\n" );
document.write( "Thanks so much!!\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\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 #531637 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=531637\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The mean of salaries for a total of 350 staff is: µ = $50,500<BR>\n" );
document.write( " The standard deviation for the 350 staff members is: &#963; = $18,800<BR>\n" );
document.write( " (These numbers have been rounded to the nearest $100.00) <BR>\n" );
document.write( "So the question is: If all possible samples of size 40 were taken from this population, what would you expect the mean and standard deviation of these samples means to be?? <BR>\n" );
document.write( "-------<BR>\n" );
document.write( "Using the Central Limit Theorem::<BR>\n" );
document.write( "mean of the sample means = the mean of the population = 50,500<BR>\n" );
document.write( "std of the sample means = 18,800/sqrt(40)<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" );