Question
Question 01: An economist wishes to estimate the average family income in a certain population. The population standard deviation is known to be $4,500, and
Question 01: An economist wishes to estimate the average family income in a certain population. The population standard deviation is known to be $4,500, and the economist uses a random sample of size n = 75.
a) What is the probability that the sample mean will fall within $800 of the population mean?
b) Given know we know that the population mean is $9,000. What is the probability that the sample mean will be at least $12,600?
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Introduction to Probability
Authors: Mark Daniel Ward, Ellen Gundlach
1st edition
716771098, 978-1319060893, 1319060897, 978-0716771098
