A sample of five Fortune 500 companies showed the following revenues ( millions): 7505.0, 2904.7, 7208.4, 6819.0, and 19500.0 . Based on this information, which of the following statements is correct?
a. An estimate of the average revenue for all Fortune 500 companies is 8787.42 ( millions).
b. The average revenue for all Fortune 500 companies is 8787.42 ( millions).
c. Over half of all Fortune 500 companies earn at least 7208.4 ( millions) in revenues.
d. If five other Fortune 500 companies were chosen, the average revenue would be 8787.42 ( millions).
Question 2
Random samples of size 49 are taken from a population that has 200 elements, a mean of 180, and a variance of 196 . The distribution of the population is unknown. The mean and the standard error of the mean are
a. 180 and 24.39
b. 180 and 28
c. 180 and 2
d. 180 and 1.74
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