Question 232876: Suppose household incomes in Indiana Co have a mean of $48,000 and a standard deviation of $18,000. What is the probability that a random sample of 100 households with a mean income below $45,000?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Suppose household incomes in Indiana Co have a mean of $48,000 and a standard deviation of $18,000. What is the probability that a random sample of 100 households with a mean income below $45,000?
---------------------------------------------------------
z(45000) = (45000-48000)/[18000/(sqrt(100)]
= -3000/(1800)
= -1.66667
--------------------
P(x < 45000) = P(z < -1.66667) = 0.04779,,,
================================================
Cheers,
Stan H.
|
|
|
