Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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According to the Current Results website, the state of California has a mean annual rainfall of 21 inches, whereas the state of New York has a mean annual rainfall of 47 inches. Assume that the standard deviation for both states is 3 inches
of rainfall for California and a sample of 45 years of rainfall for New York has been taken. Use z-table.
a. Show the probability distribution of the sample mean annual rainfall for California.
This is a normal probability distribution with E(E)
and os
(to 4 decimals).
b. What is the probability that the sample mean is within 1 inch of the population mean for California?
(to 4 decimals)
c. What is the probability that the sample mean is within1 inch of the population mean for New York?
(to 4 decimals)
d. In which case, part (b) or part (c), is the probability of obtaining a sample mean within I inch of the population mean greater? Why?
because the sample size is
-Seléct your answer - Y
Select your answer-
|The probability of being within 1 inch is greater
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Transcribed Image Text:Check My According to the Current Results website, the state of California has a mean annual rainfall of 21 inches, whereas the state of New York has a mean annual rainfall of 47 inches. Assume that the standard deviation for both states is 3 inches of rainfall for California and a sample of 45 years of rainfall for New York has been taken. Use z-table. a. Show the probability distribution of the sample mean annual rainfall for California. This is a normal probability distribution with E(E) and os (to 4 decimals). b. What is the probability that the sample mean is within 1 inch of the population mean for California? (to 4 decimals) c. What is the probability that the sample mean is within1 inch of the population mean for New York? (to 4 decimals) d. In which case, part (b) or part (c), is the probability of obtaining a sample mean within I inch of the population mean greater? Why? because the sample size is -Seléct your answer - Y Select your answer- |The probability of being within 1 inch is greater
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