document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1171191>Question 1171191</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose the mean amount of life insurance purchased by Canadian households is normally distributed with mean of $110,000 and standard deviation of $40,000.\r<BR>\n" );
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document.write( "a)What is the probability that a randomly selected Canadian household purchases at least $112,000 of life insurance? \r<BR>\n" );
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document.write( "b)If a sample of 50 Canadian households was selected at random, what is the probability that the mean amount of life insurance purchased is at least $112,000?    <BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #796137 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=796137\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> This is z>(112000-110000)/40000 or >2/40 or 0.05. That probability is 0.4801.<BR>\n" );
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document.write( "This is z > (112-110)/40/sqrt(50)= 2* sqrt(50)/40=0.3536. That probability is 0.3618. </SPAN>\n" );
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