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Information from the American Institute of Insurance indicates the mean amount of life insurance per household in the United States is $115,000. This distribution follows
Information from the American Institute of Insurance indicates the mean amount of life insurance per household in the United States is $115,000. This distribution follows the normal distribution with a standard deviation of $45,000. Suppose a sample of 64 households will be conducted. a. What is the likelihood of selecting a sample with a mean of at least $112,000? b. Find the likelihood of selecting a sample with a mean of more than $100,000 but less than $112,000.
c.Within what limits will 90% of the sample occur? |
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