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A random sample of size n = 50 is taken from a large population with mean 15 and variance 4, but unknown distribution.
(i) What is the standard deviation σX¯ of the sample mean?
(ii) If the sample size were reduced by 50%, what will be the new standard deviation σX¯ of the sample mean?
(iii) To reduce the standard deviation to 50% of the value in (i), what sample size will be needed?
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What additional information would be needed to determine the actual cause of this problem? What controls could be implemented to avoid repeated instances of this problem?
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Earnings per share of common stock for 2013
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