The monthly rents for studio apartments in a certain city have a mean of $920 and a standard deviation of $190. Random samples of size 30 are drawn from the population and the mean of each sample is determined.
A)$920, $34.69
B)$920, $6.33
C)$167.97, $34.69
D)$167.97, $190

Question

Quizplus · Accepted Answer

The mean of the sample means will be the same as the population mean, which is $920. The standard deviation of the sample means (standard error) is calculated as the population standard deviation divided by the square root of the sample size, which is $190 / sqrt(30) = $34.69.

The Monthly Rents for Studio Apartments in a Certain City