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What is the probability that the sample mean is between 95 and 105?

a 68%

How do you find sample standard deviation from population standard deviation?

  1. Step 1: Find the mean.
  2. Step 2: Subtract the mean from each score.
  3. Step 3: Square each deviation.
  4. Step 4: Add the squared deviations.
  5. Step 5: Divide the sum by one less than the number of data points.
  6. Step 6: Take the square root of the result from Step 5.

Should I use sample or population standard deviation?

When to use the sample or population standard deviation Therefore, if all you have is a sample, but you wish to make a statement about the population standard deviation from which the sample is drawn, you need to use the sample standard deviation.

How do you know when to use a sample or a population?

A population is the entire group that you want to draw conclusions about. A sample is the specific group that you will collect data from. The size of the sample is always less than the total size of the population. In research, a population doesn’t always refer to people.

What is the relationship between the standard deviation of the sample mean and the population standard deviation?

The mean of the sample mean ˉX that we have just computed is exactly the mean of the population. The standard deviation of the sample mean ˉX that we have just computed is the standard deviation of the population divided by the square root of the sample size: √10=√20/√2.

What does a high standard deviation mean?

A standard deviation (or σ) is a measure of how dispersed the data is in relation to the mean. Low standard deviation means data are clustered around the mean, and high standard deviation indicates data are more spread out.

What is a good standard deviation of a portfolio?

Standard deviation allows a fund’s performance swings to be captured into a single number. For most funds, future monthly returns will fall within one standard deviation of its average return 68% of the time and within two standard deviations 95% of the time.

What is the meaning of 1 standard deviation?

The Standard Deviation is a measure of how spread out numbers are (read that page for details on how to calculate it). When we calculate the standard deviation we find that generally: 68% of values are within. 1 standard deviation of the mean. 95% of values are within.

What does it mean when standard deviation is 0?

A standard deviation can range from 0 to infinity. A standard deviation of 0 means that a list of numbers are all equal -they don’t lie apart to any extent at all.

How much is two standard deviations?

Under this rule, 68% of the data falls within one standard deviation, 95% percent within two standard deviations, and 99.7% within three standard deviations from the mean.