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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Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo
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