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Question

The latest available data showed health expenditures were $\$ 8086$ per person in the United States or $17.6 \%$ of gross domestic product. Use $\$ 8086$ as the population mean and suppose a survey research firm will take a sample of 100 people to investigate the nature of their health expenditures. Suppose the population standard deviation is $\$ 2500$.

a. Show the sampling distribution of the mean amount of healthcare expenditures for a sample of 100 people.

Solution

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Answered 1 year ago

Step 1

1 of 3The goal of this task is to show in the coordinate system the sampling distribution of $\bar{x}$ supposing we use a random sample of size $100$.

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