BusinessWeek surveyed MBAalumni 10 years after graduation (BusinessWeek, September 22, 2003). One finding was that alumni spend

Question:

BusinessWeek surveyed MBAalumni 10 years after graduation (BusinessWeek, September 22, 2003). One finding was that alumni spend an average of $115.50 per week eating out socially. You have been asked to conduct a follow-up study by taking a sample of 40 of these MBA alumni. Assume the population standard deviation is $35.
a. Show the sampling of , the sample mean weekly expenditure for the 40 MBA alumni.
b. What is the probability the sample mean will be within $10 of the population mean?
c. Suppose you find a sample mean of $100. What is the probability of finding a sample mean of $100 or less? Would you consider this sample to be an unusually low spending group of alumni? Why or why not? 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...