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Suppose that the annual salary increases for CEOs of all small corporations are normally distributed with an average 12.3% increase in salary, and standard deviation
Suppose that the annual salary increases for CEOs of all small corporations are normally distributed with an average 12.3% increase in salary, and standard deviation of 3.7%. A random sample of nine CEOs is selected from the population and the sample mean computed. What is the probability that the sample mean will be less than 10%? (Round the standard deviation of the sample mean to four decimal places. Round your final answer to four decimal places. Remember to express your answer as a proportion.)
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