SOLUTION: The average yearly cost per household of owning a dog is $194.21. Suppose that we randomly select 30 households that own a dog. What is the probability that the sample mean for the

Question 320267: The average yearly cost per household of owning a dog is $194.21. Suppose that we randomly select 30 households that own a dog. What is the probability that the sample mean for these 30 households is less than $187.00? Assume standard deviation = $27.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The average yearly cost per household of owning a dog is $194.21.
Suppose that we randomly select 30 households that own a dog.
What is the probability that the sample mean for these 30 households
is less than $187.00?
Assume standard deviation = $27.
-------------------------------------
Sample mean: 187
t(187)=(187-194.21)/[27/sqrt(30)] = -1.4626
----
P(x < 187) = P(t< -1.4626 when df=29) = tcdf(-1000,-1.4626,29) = 0.0772
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Cheers,
Stan H.

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