Determine the amount of change people carry


A bank wants to determine the amount of change people carry. They take the simple random sample of 100 people, and find out that on the average people in sample carry $0.73 in change. They figure out the standard error is $0.04, because ?100 x ?(.73 x .27) = 4, 3/100 = 0.04. Are they right? Answer yes or no, and explain.

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Basic Statistics: Determine the amount of change people carry
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