According to Runzheimer International, a typical business traveler spends an average of $281 per day in Chicago. This cost includes hotel, meals, car rental, and incidentals. A survey of 70 randomly selected business travelers who have been to Chicago on business recently is taken. For the population mean of $281 per day, what is the probability of getting a sample average of more than $266 per day if the population standard deviation is $47?

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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According to Runzheimer International, a typical business traveler spends an average of $281 per day in Chicago. This cost includes hotel, meals, car rental, and incidentals. A survey of 70 randomly selected business travelers who have been to Chicago on business recently is taken. For the population mean of $281 per day, what is the probability of getting a sample average of more than $266 per day if the population standard deviation is $47?


Appendix A Statistical Tables https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchId=2333882f-0c41-4ee5-8a4b-7f87d5b49481#



(Round the values of z to 2 decimal places, e.g. 15.25. Round your answer to 4 decimal places, e.g. 0.2513.)

 

 

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