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Farmer incomes are 500, 550, 600, 650, 700. A sample of 500 and 600 is drawn. Sampling error in the mean?
A25
B100
C75
D50
Answer & Solution
Correct answer: D. 50
The population mean is 3000 divided by 5, which is 600, the sample mean is 550, so the error is 600 minus 550, which is 50.
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