Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A leading magazine (like Barron's) reported at one time that the average number of weeks an individual is unemployed is 40 weeks. Assume that for

image text in transcribed
A leading magazine (like Barron's) reported at one time that the average number of weeks an individual is unemployed is 40 weeks. Assume that for the population of all unemployed individuals the population mean length of unemployment is 40 weeks and that the population standard deviation is 3.4 weeks. Suppose you would like to select a random sample of 59 unemployed individuals for a follow-up study. Find the probability that a single randomly selected value is greater than 39.5. P(X>39.5)= (Enter your answers as numbers accurate to 4 decimal places.) Find the probability that a sample of size n=59 is randomly selected with a mean greater than 39.5. P(X>39.5)= (Enter your answers as numbers accurate to 4 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mutual Fund Industry Handbook

Authors: Gremillion

1st Edition

0471736244, 978-0471736240

More Books

Students also viewed these Finance questions

Question

What is the law of one price?

Answered: 1 week ago

Question

5. Describe the visual representations, or models, of communication

Answered: 1 week ago