According to the Current Results website, the state of California has a mean annual rainfall of 22

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According to the Current Results website, the state of California has a mean annual rainfall of 22 inches, whereas the state of New York has a mean annual rainfall of 42 inches. Assume that the standard deviation for both states is 4 inches. A sample of 30 years of rainfall for California and a sample of 45 years of rainfall for New York have been taken.
a. Show the probability distribution of the sample mean annual rainfall for California.
b. What is the probability that the sample mean is within 1 inch of the population mean for California?
c. What is the probability that the sample mean is within 1 inch of the population mean for New York?
d. In which case, part (b) or part (c), is the probability of obtaining a sample mean within 1 inch of the population mean greater? Why?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Modern Business Statistics With Microsoft Excel

ISBN: 9781337115186

6th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

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