From the entire population of McDonald’s franchises, an analyst constructs a sample of the monthly sales volume for 20 randomly selected franchises. She calculates the mean sales volume for those 20 franchises to be $400,000. The sampling distribution of the mean is the probability distribution of the:
A) |
mean monthly sales volume estimates from all possible samples. | |
B) |
monthly sales volume for all McDonald’s franchises. | |
C) |
mean monthly sales volume estimates from all possible samples of 20 observations. | |
The sampling distribution of a sample statistic is a probability distribution made up of all possible sample statistics computed from samples of the same size randomly drawn from the same population, along with their associated probabilities. |