Sales prices of baseball cards from the 1960s are known to possess a right skewed 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 1960s is selected.Describe the sampling distribution for the sample mean sale
Price of the selected cards.
A) Right skewed with a mean of $5.25 and a standard error of $2.80
B) Normal with a mean of $5.25 and a standard error of $0.28
C) Right skewed with a mean of $5.25 and a standard error of $0.28
D) Normal with a mean of $5.25 and a standard error of $2.80

Question

Quizplus · Accepted Answer

The sampling distribution of the sample mean will be approximately normal due to the Central Limit Theorem, even though the population distribution is right-skewed. The mean of the sampling distribution will be the same as the mean of the population, which is $5.25. The standard error of the sampling distribution will be the standard deviation of the population divided by the square root of the sample size, which is $2.80 / sqrt(100) = $0.28.

Sales Prices of Baseball Cards from the 1960s Are Known