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A random sample of size 10 was taken from a normally distributed population with a population mean 27 and a population standard deviation 8.
Determine each of the following about the sampling distribution of the sample mean.
Round your answer to at least 3 decimal places where appropriate.
a) μx_=
b) σx_=
c) Can we conclude that the sampling distribution of the sample mean is normal? YES or NO
Suppose a 360-day year, Compute the average investment in inventory would be for a firm, given the following information in each case:
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First Cash Financial Services: Payday Loans and Returns located in Chapter 9 of your text. Do you think that the interest charged for payday loans is fair? Relate the potential risks faced by companies such as First Cash as it pertains to investors c..
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