A population of 10000 students spends an average of 850 a da

A population of 10,000 students spends an average of $8.50 a day on dinner. The standard deviation of the expenditure is $4. A simple random sample of 100 students is taken. What is the standard deviation of the sampling distribution of the sample mean? Round your answer to 3 decimal places and no dollar sign.

Solution

As

s(X) = s/sqrt(n)

Then, as s = 4, n = 100,

s(X) = 4/sqrt(100) = 0.4 [ANSWER]