The daily revenue at a university snack bar has been recorded for the past five years. Records indicate that the mean daily revenue is $2700 and the standard deviation is $400. The distribution is skewed to the right due to several high volume days (football game days). Suppose that 100 days are randomly selected and the average daily revenue computed. According to the Central Limit Theorem, which of the following describes the sampling distribution of the sample mean? a. Normally distributed with a mean of $2700 and a standard deviation of $40
b. Normally distributed with a mean of $2700 and a standard deviation of $400
c. Skewed to the right with a mean of $2700 and a standard deviation of $400
d. Skewed to the right with a mean of $2700 and a standard deviation of $40

a. Normally distributed with a mean of $2700 and a standard deviation of $40

Step-by-step explanation:

Given that:

the mean daily revenue is $2700

the standard deviation is $400

sample size n is 100

According to the Central Limit Theorem, the sampling distribution of the sample mean can be computed as follows:

standard deviation =

standard deviation =

standard deviation = 40

This is because the sample size n is large ( i,e n > 30) as a result of that  the sampling distribution is normally distributed.

Therefore;

the statement that  describes the sampling distribution of the sample mean is : option A.

a. Normally distributed with a mean of $2700 and a standard deviation of $40

answer: .64

step-by-step explanation

set up the formula for standard deviation for this set of numbers, then simplify

answer

a) the midrange of the data set shown is 85.5

step by step explanation

let's find the midrange.

the midrange is nothing but add the greatest value and the least value, then divide it by 2.

here the greatest value = 99

the least value = 72

midrange = (99 + 72)/2

= 171/2

midrange = 85.5

you.