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A research group is trying to determine the impact of the economic downturn on businesses in the Caribbean. The average loss, in thousands of US
A research group is trying to determine the impact of the economic downturn on businesses in the Caribbean. The average loss, in thousands of US dollars is known to be $3 with a standard deviation of $1. Use this information to answer the questions below. Suppose we want to determine the probability that a sample of 8 business will yield an average loss of at least $2, The associated standardized value is The associated probability is In another situation, the researchers wanted to find the probability that a sample would yield an average loss of at least $4. The z value for this was 1.5 . The correct probability statement for this would be The average balance in a savings account at ABC bank is $50,000 with a standard deviation of $15,000. The balance in a savings account is known to be left skewed. If a sample of 81 accounts is taken, what is the distribution of the average of these accounts? Select one: a. Right skewed with mean $50,000 and standard deviation $1666.67. b. Normal with mean $50,000 and standard deviation $15,000. c. Left skewed with mean $50,000 and standard deviation $15,000. d. Normal with mean $50,000 and standard deviation $1666.67. e. Left skewed with mean $50,000 and standard deviation $1666.67. Clear my choice
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