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According to Strategic Vision, the average age of Mercedes buyers in the US is 54 years old. Assume that the standard deviation for the age
According to Strategic Vision, the average age of Mercedes buyers in the US is 54 years old. Assume that the standard deviation for the age of these buyers is 8.5 years. A random sample of 38 mercedes buyers was selected. It was estimated, based on the selected sample, that there is a 92.65% chance that the avenge age in the sample will fall below a certain value. Compute the value of that age below which there would be about 92.65% of the buyers in the selected sample.
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