Basic Statistics Timed Question 2. Need in 50 Minutes!

timer Asked: Apr 3rd, 2016

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Question 2

A commodity trader who usually makes around 25 transactions per week obtained the following graph showing the average transaction size in $1000 for each of the last 20 weeks. Each dot represents the weekly average (in $1000) of about 25 transactions.

By examining the graph, would you estimate the standard error for the weekly average of transaction sizes to be closest to $2,000, $20,000, or $50,000?




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