Use the following information to answer the questions 1 and 2 below.

#(blue MM beans) 1 5 4 6 4 4 3 2 2 1 1 2 8 3 4 4 1 6 6 2 3 2 3 4 6 5 4 5 3 3 2 1 5 0 5 5 4 3 3 2 2 6 6 4 5 5 2 0 4 3 2 3 4 1 0 1 1 1 4 3 2 2 5 2 2 6 5 5 3 2 4 4 4 2 0 3 5 5 1 3 5 3 2 5 2 2 2 6

1. Jiang is interested in finding out how many blue chocolate beans a M&M fun-sized bag contains. With the help of the two Econ 0150 sections she teaches, she has collected data from a sample of 88 bags. For each observation in the sample, the number of blue beans is recorded. The data is presented in the Excel file "Questions 3 and 4.xlsx". With a sample size of 88, how is the sample mean of the number of blue beans per bag distributed? A) It follows a normal distribution with mean = 3.25 blue beans and standard devi- ation = 1.74 blue bean. B) It follows a normal distribution with mean = 3.25 blue beans and standard devi- ation = 0.19 blue bean. C) It follows a non-normal distribution with mean = 3.25 blue beans and standard deviation = 1.74 blue bean. D) It follows a non-normal distribution with mean = 3.25 blue beans and standard deviation = 0.19 blue bean.

2. Based on the data in Question 1, consider the probability that the average number of blue beans per bag for a sample of 88 M&M bags is more than 3. Which of the following statements is true? A) This probability is between 9% and 10%. B) This probability is between 44% and 45%. C) This probability is between 55% and 56%. D) This probability is between 90% and 91%.

Use the following information to answer question 3 and 4:

Additional willingness to pay ($) Greater than or equal to $2?

1 0 0 0 4 1 0.5 0 2 1 1 0 0 0 2 1 3 1 2 1 1 0 0 0 0 0 4 1 2 1 3 1 1 0 4 1 4 1 6.66 1 1 0 3 1 6 1 1 0 1.33 0 1 0 9 1 6 1 9 1 5 1 2 1 0 0 0 0 2 1 6 1 4 1 0 0 0 0 0 0 0 0 1 0 9 1 14 1 6 1 0 0 3. 1 1 0 0 0