Hint(s) Check My Work In the EAI sampling problem, the population mean is $71,700 and the population standard deviation is $4000. For n = 20, there is a 0.4246 probability of obtaining a sample mean within $500 of the population mean. Use z-table. a. What is the probability that is within $500 of the population mean if a sample of size 40 is used (to 4 decimals)? b. Answer part (a) for a sample of size 80 (to 4 decimals).
Hint(s) Check My Work In the EAI sampling problem, the population mean is $71,700 and the population standard deviation is $4000. For n = 20, there is a 0.4246 probability of obtaining a sample mean within $500 of the population mean. Use z-table. a. What is the probability that is within $500 of the population mean if a sample of size 40 is used (to 4 decimals)? b. Answer part (a) for a sample of size 80 (to 4 decimals).
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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