Over a 100 year time period, the consumption's share of GDP on average in a certain...
Over a 100 year time period, the consumption's share of GDP on average in a certain country was 65.24% with a standard deviation of 6.574%. You take a 30 year sample of the data, and find the sample has a share average of 64.21%. Given that the z-score of the 30 year sample average is about -0.157, is the 30 year number considered 'close' to the 100 year number? Answer with at least three complete sentences.
Homework Answers
The Z score is Z = xbar - 
/(
/√n)
The denominator has sample size n , n increases Z score also increases. So for sample size 30, Z score is smaller than Z score for sample size 100.
So Z score for 30 year number is not close to 100 year number
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