Mathematics, 17.04.2020 20:36 lashaunahard
An economist uses the price of a gallon of milk as a measure of inflation. She finds that the average price is $3.82 per gallon and the population standard deviation is $0.33. You decide to sample 40 convenience stores, collect their prices for a gallon of milk, and compute the mean price for the sample.
a. what is the standard error of the mean in this experiment?
b. what is the probability that the sample mean is between $3.78 and $3.86?
c. what is the probability that the difference between the sample mean and the population mean is less than $0.01?
d. what is the likelihood the sample mean is greater than $3.92?
Answers: 2
Mathematics, 21.06.2019 21:50, zymikaa00
Scores on a university exam are normally distributed with a mean of 78 and a standard deviation of 8. the professor teaching the class declares that a score of 70 or higher is required for a grade of at least “c.” using the 68-95-99.7 rule, what percentage of students failed to earn a grade of at least “c”?
Answers: 1
An economist uses the price of a gallon of milk as a measure of inflation. She finds that the averag...
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