According to a 2018 Money magazine article, the average income in Kansas is $53,906. Suppose the...
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According to a 2018 Money magazine article, the average income in Kansas is $53,906. Suppose the standard deviation is $3000 and the distribution of income is right- skewed. Repeated random samples of 400 Kansas residents are taken, and the sample mean of incomes is calculated for each sample. a. The population distribution is right-skewed. Will the distribution of sample means be Normal? Why or why not? b. Find and interpret a z-score that corresponds with a sample mean of $53,606. c. Would it be unusual to find a sample mean of $54,500? Why or why not? According to a 2018 Money magazine article, the average income in Kansas is $53,906. Suppose the standard deviation is $3000 and the distribution of income is right- skewed. Repeated random samples of 400 Kansas residents are taken, and the sample mean of incomes is calculated for each sample. a. The population distribution is right-skewed. Will the distribution of sample means be Normal? Why or why not? b. Find and interpret a z-score that corresponds with a sample mean of $53,606. c. Would it be unusual to find a sample mean of $54,500? Why or why not?
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Related Book For
Statistics for Business & Economics
ISBN: 978-1337901062
14th edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Posted Date:
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