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In the EAI sampling problem, the population mean is $71,800 and the population standard deviation is $4,000. When the sample size is n = 30,
In the EAI sampling problem, the population mean is $71,800 and the population standard deviation is $4,000. When the sample size isn= 30, there is a .5064 probability of obtaining a sample mean within +/- $500 of the population mean.
1.What is the probability that x is within 500 of the population mean if a sample of size 60 is used (to 4 decimals)?
- Answer part (a) for a sample of size 120 (to 4 decimals).
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