Question
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 is n = 30, there is a 0.5064 probability of obtaining a sample mean within +/- $500 of the population mean.
A. What is the probability that the sample mean is within $500 of the population mean if a sample of size 60 is used (to 4 decimals)? B. Answer part (a) for a sample of size 120 (to 4 decimals).?
2. In the EAI sampling problem, the population mean is $71,400 and the population standard deviation is $5,000. When the sample size is n = 20, there is a 0.4108 probability of obtaining a sample mean within +/- $600 of the population mean.
A. What is the probability that the sample mean is within $600 of the population mean if a sample of size 40 is used (to 4 decimals)?
B. Answer part (a) for a sample of size 80 (to 4 decimals)?
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Accounting Information Systems
Authors: Marshall B Romney, Paul J. Steinbart, Scott L. Summers, David A. Wood
15th Edition
0135572835, 9780135572832
