Recent studies indicate that the typical 50 year old woman spends $350 per year for personal care products The distribution of the amounts spent follows a normal distribution with a standard deviation of $45 per year We select a random sample of 40 women The mean amount spent for those sampled is $...

Recent studies indicate that the typical 50-year-old woman spends $350 per year for personal- care products. The

Question:

Recent studies indicate that the typical 50-year-old woman spends $350 per year for personal- care products. The of the amounts spent follows a normal with a standard deviation of $45 per year. We select a random sample of 40 women. The mean amount spent for those sampled is $335. What is the likelihood of finding a sample mean this large or larger from the specified population?
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...

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 62% (8 reviews)

So probabili...View the full answer

Answered By

Asim farooq

I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening. My Expert Service Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities

4.40+ 65+ Reviews 86+ Question Solved

Related Book For answer-question

Basic Statistics For Business And Economics

ISBN: 9780073521473

8th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

See More Books

Question Posted: Dec 05, 2016 11:27 AM

See More Questions

Recent studies indicate that the typical 50-year-old woman spends $350 per year for personal- care products. The

Question:

Step by Step Answer:

So probabili...View the full answer

Basic Statistics For Business And Economics

Students also viewed these Statistics questions