A particular automobile costs an average of $21,755 in British Columbia. The standard deviation of prices is

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A particular automobile costs an average of $21,755 in British Columbia. The standard deviation of prices is $650. Suppose a random sample of 30 dealerships in Vancouver and Victoria is taken, and their managers are asked what they charge for this automobile. What is the probability of getting a sample average cost of less than $21,500? Assume that only 120 dealerships in all of British Columbia sell this automobile.

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Business Statistics For Contemporary Decision Making

ISBN: 9781119577621

3rd Canadian Edition

Authors: Ken Black, Ignacio Castillo

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