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Suppose that, according to a recent census, the income per capita measured in US dollars was $42,655 in country A and $45,636 in country
Suppose that, according to a recent census, the income per capita measured in US dollars was $42,655 in country A and $45,636 in country B. Assume that income per capita is Normally distributed with a standard deviation equal to 35% of the mean for each country. A random sample of five people in country A and five people in country B is selected a) What is the probability that the mean income of the sample from country A is above $45,6367 b) What is the probability that the mean income of the sample from country B is above $42,655? c) What would be the effect of not assuming that the income per capita is Normally distributed? a) The probability is (Round to four decimal places as needed.)
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