Question

The R. R. Bowker Company collects information on the retail prices of books and publishes its findings in The Bowker Annual Library and Book Trade Almanac.
In 2005, the mean retail price of all history books was $78.01.
Assume that the standard deviation of this year's retail prices of all history books is $7.61. If this year's mean retail price of all history books is the same as the 2005 mean, what percentage of all samples of size 40 of this year's history books have mean retail prices of at least $81.44? State any assumptions that you are making in solving this problem.


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  • CreatedAugust 13, 2015
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