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I would like some detailed explanation of the following Inference for One-Sample Population Means - Part 1 Question down below 1. ] 8; G Life
I would like some detailed explanation of the following Inference for One-Sample Population Means - Part 1 Question down below
1. ] 8; G Life Insurance Company is interested in determining if their sales representatives in the Caribbean are opening new life insurance policies at the same rate as their North American counterparts. They randomly sample 40 of their sales representatives from the Caribbean and recorded the number of new insurance po 1c1es opened in 6 months. The standard deviation of this variable is known to be 20 new policies. The results of the sample are presented below. Descriptive Statistics N Minimum Maximum MEGI'I S'lL'l. DEVlallUlT Sales 10 3500 100.00 50.4000 10.5?121 Valid N (Matinee) 40 a) What is the probability that a sales representative has less than 70 sales in the 6-month period if the population average is known to be 80'? b) What is the probability that this sample from the Caribbean has, on average, more than 82 sales in the 6-month period if the population average is known to be 80Step by Step Solution
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