Majesty Video Production Inc. wants the mean length of its advertisements to be 30 seconds. Assume the

Question:

Majesty Video Production Inc. wants the mean length of its advertisements to be 30 seconds. Assume the distribution of ad length follows the normal distribution with a population standard deviation of 2 seconds. Suppose we select a sample of 16 ads produced by Majesty.

a. What can we say about the shape of the distribution of the sample mean time?
b. What is the standard error of the mean time?
c. What percent of the sample means will be greater than 31.25 seconds?
d. What percent of the sample means will be greater than 28.25 seconds?
e. What percent of the sample means will be greater than 28.25 but less than 31.25 seconds?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...