Step 1 :The problem is asking for the mean and standard deviation of the sampling distribution of the sample mean, denoted as $\bar{x}$. The mean of the sampling distribution of $\bar{x}$ is equal to the population mean, which is given as $\mu=4$.
Step 2 :The standard deviation of the sampling distribution of $\bar{x}$ is equal to the population standard deviation divided by the square root of the sample size. The population standard deviation is given as $\sigma=\sqrt{4}$, which simplifies to $\sigma=2$. The sample size is 40.
Step 3 :We can calculate the standard deviation of the sampling distribution of $\bar{x}$ using these values. The formula is $\sigma_{x} = \frac{\sigma}{\sqrt{n}}$, where $\sigma$ is the population standard deviation and $n$ is the sample size.
Step 4 :Substituting the given values into the formula, we get $\sigma_{x} = \frac{2}{\sqrt{40}}$.
Step 5 :Solving this expression gives $\sigma_{x} \approx 0.316$.
Step 6 :So, the mean of the sampling distribution of $\bar{x}$ is 4 and the standard deviation of the sampling distribution of $\bar{x}$ is approximately 0.316.
Step 7 :Final Answer: $\mu_{x}=\boxed{4}$ and $\sigma_{x}=\boxed{0.316}$