There are 10,000 households within the city limits of a town. A large restaurant chain is...

 

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There are 10,000 households within the city limits of a town. A large restaurant chain is considering establishing a restaurant but first needs to know the annual income per household. You are hired to find the needed information. You decide to select 10 samples of 20 households each and find the mean for each sample. You find the following information. Incomes are rounded to the nearest thousand dollars. Sample # 1 2 3 4 5 Annual Mean $34,000 $50,000 $26,000 $42,000 $58,000 Income Sample # 6 7 8 9 10 Annual Mean Income $42,000 $50,000 $42,000 $34,000 $42,000 If you create a sample distribution for the probabilities for each mean income what will be the probability for an income of $26,000? Write answers as fractions in simplest form. There are 10,000 households within the city limits of a town. A large restaurant chain is considering establishing a restaurant but first needs to know the annual income per household. You are hired to find the needed information. You decide to select 10 samples of 20 households each and find the mean for each sample. You find the following information. Incomes are rounded to the nearest thousand dollars. Sample # 1 2 3 4 5 Annual Mean $34,000 $50,000 $26,000 $42,000 $58,000 Income Sample # 6 7 8 9 10 Annual Mean Income $42,000 $50,000 $42,000 $34,000 $42,000 If you create a sample distribution for the probabilities for each mean income what will be the probability for an income of $26,000? Write answers as fractions in simplest form.