In determining automobile mileage ratings, it was found that the mpg in the city for a certain
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In determining automobile mileage ratings, it was found that the mpg in the city for a certain model is normally distributed, with a mean of 30 mpg and a standard deviation of 1.0 mpg. Suppose that the car manufacturer samples 5 cars from its assembly line and tests them for mileage ratings.
a. What is the distribution of the mean mpg for the sample?
b. What is the probability that the sample mean will be greater than 31 mpg?
c. What is the probability that the sample mean will be less than 29.5 mpg?
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...
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Sultan Ghulam Dastgir
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Related Book For 
Business Analytics Methods Models and Decisions
ISBN: 978-0321997821
2nd edition
Authors: James R. Evans
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