1. A class takes the exam where the average time to complete exam is normally distributed with the 40 minutes and standard deviation of 9 minutes. If class lasts 1 hour, what percent of students will have turned in exam after 60 minutes?
2. The following values represent population of home mortgage interest rates (in percents) being charged through the banks in the particular city:
| 6.9 |
7.5 |
6.5 |
7 |
7.3 |
6.8 |
6.5 |
| 7 |
7 |
7.2 |
7.5 |
7.8 |
6 |
7 |
Given this information, what would the sampling error be if a sample including the seven values in the top row were used to compute the sample mean?
a. Approximately 6.93
b. out 0.56
c. approximately -0.07
d. about 0.07