Question

Each member of a random sample of 15 business economists was asked to predict the rate of inflation for the coming year. Assume that the predictions for the whole population of business economists follow a normal distribution with standard deviation 1.8%.
a. The probability is 0.01 that the sample standard deviation is bigger than what number?
b. The probability is 0.025 that the sample standard deviation is less than what number?
c. Find any pair of numbers such that the probability that the sample standard deviation that lies between these numbers is 0.90.


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  • CreatedJuly 07, 2015
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