The mean value of land and buildings per acre for farms in Illinois is $6700. A random

Question:

The mean value of land and buildings per acre for farms in Illinois is $6700. A random sample of 36 Illinois farms is selected. What is the probability that the mean value of land and buildings per acre for the sample is

(a) Less than $7200,

(b) More than $6500, and

Assume σ = $1250.

Find the indicated probabilities and interpret the results. If convenient, use technology to find the probabilities.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Elementary Statistics Picturing The World

ISBN: 9780321911216

6th Edition

Authors: Ron Larson, Betsy Farber

See More Books

Question Posted: Nov 24, 2015 06:47 AM

See More Questions

A random sample of 36 observations has been drawn from a normal distribution with mean 50 and standard deviation 12. Find the probability that the sample mean is in the interval47 < X < 53.
A random sample of 36 mid-sized cars tested for fuel consumption gave a mean of 26.4 miles per gallon with a standard deviation of 2.3 miles per gallon. a. Find a 99% confidence interval for the...
In a manufacturing process a random sample of 36 bolts manufactured has a mean length of 3 inches with a standard deviation of .3 inches. What is the 99% confidence interval for the true mean length...
Can you provide an example of when you led a previous organization through a major operational change? Did you encounter any obstacles and how did you motivate and guide your team through these...
Wilbert Heikkila listed eight parcels of real property for sale. David McLaughlin submitted written offers to purchase three of the parcels. Three printed purchase agreements were prepared and...
Question 9 2 pts An art collector has a collection worth $125,000, and the collector has inquired about fully insuring her collection using the insurance company Rock Solid, Inc. The company...
Is the task overspent or underspent? By how much?
The following information relates to three possible capital expenditure projects. Because of capital rationing only one project can be accepted. The company estimates its cost of capital is 18 per...
3 Required information [ The following information applies to the questions displayed below. ] Part 2 of 3 0 . 7 5 points Claire Corporation is planning to issue bonds with a face value of $ 1 6 0 ,...
Thornby Inc. has completed its fiscal year on December 31. The auditor, Kim Holmes, has approached the CFO, Brad Potter, regarding the year-end receivables and inventory levels of Thornby Inc. The...
Refer to Exercise 34. A random sample of seven bumblebee bats is selected from the study. Find the probability that the mean weight of the sample is (a) Between 1.8 grams and 2.2 grams, (b) Between...
The mean value of land and buildings per acre for farms in Colorado is $1170. A random sample of 32 Colorado farms is selected. What is the probability that the mean value of land and buildings per...
X, Y and Z have been in partnership for several years, sharing profits and losses in the ratio 3 : 2 : 1. Their last balance sheet which was prepared on 31 October 20X9 is as follows: Despite making...
Tristan Walker of Walker & Company says, "We are only going to design, develop, and test products and services uniquely tailored to our community's needs. I get it. I'm a part of the community we are...
Ace Cosmetics Corporation purchased land adjacent to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows: purchase price, $55,000;...
7. At this point you now know information about both the horizontal and the vertical components of the projectile's velocity. In the space below, draw a diagram of the vector components of Vx and...
Complete autonomy in how you demonstrate the following criteria. In this module, we talked more about leadership. We discussed the differences between leadership theory which is a well-substantiated...
Accustart Ltd. acquired 38% of the common shares of Lecce Ltd. on January 1, 2024, by paying $5.76 million for 144,000 shares. Lecce declared a cash dividend of $0.60 per share in each quarter that...
Derive a market demand curve from the following two individual demand curves: Price $10 9 8765432 1 D Dz 0 1 2 3 4 5 6 7 8 9 10 Quantity
What kind of financial pressures can an LBO cause?
Continue to monitor response times and patient satisfaction indicators to determine if the response times are stable (consistent over time) and patient satisfaction scores remain within the goal...
The statement represents a claim. Write its complement and state which is H 0 and which is H a . p = 0.21
Match the alternative hypothesis with its graph. Then state the null hypothesis and sketch its graph. H 0 : < 3 (b) (c) 3
Match the alternative hypothesis with its graph. Then state the null hypothesis and sketch its graph. H 0 : 3 (b) (c) 3
As a Financial Analyst in the Finance Department of Zeta Auto Corporation they are seeking to expand production. The CFO asks you to help decide whether the firm should set up a new plant to...
Chapter 4 When an Auditor finds misstatements in entities financial statements which may be the result of fraudulent act, what should be the role of an auditor under that situation? (2 Points)
Suppose the following input prices are provided for each year: Required: $

The mean value of land and buildings per acre for farms in Illinois is $6700. A random

Question:

Step by Step Answer:

a Px 7200 Pz 240 09918 b Px 6500 P...View the full answer

Elementary Statistics Picturing The World

Students also viewed these Statistics questions