Question
Background Data: A new survey indicates that women are spending more money on technology. Women are reported to spend on average $588 per year for
Background Data: A new survey indicates that women are spending more money on technology. Women are reported to spend on average $588 per year for technology products. The population distribution of the amounts spent follows a normal distribution with a standard deviation of $45 per year.
1. What is the probability that a randomly selecting women spends $627.15 or less on technology products?
Answer with three decimal places.
2. A random sample of 75 women is selected. What is the probability that the mean amount spent for those sampled is $580.36 or less?
Answer with three decimal places.
3. Presumably, the population distribution of $ spent by women on technology products is severely skewed. Does that impact our ability to use/interpret the confidence interval found above?
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