Question: A random variable has a population mean equal to 1,573 and population variance equal to 952,021. Your interest lies in estimating the population mean of

A random variable has a population mean equal to 1,573 and population variance equal to 952,021. Your interest lies in estimating the population mean of this random variable. (Of course, you do not know what the population mean and population variance are.) With that in mind, you take a representative sample of size 85 from the population of the random variable. You then use this sample data to calculate the sample average as an estimate for the population mean.

(a) Using your knowledge about the central limit theorem (CLT), and assuming that the CLT has already established itself / kicked in when the sample size is 85, what is the probability that the sample average that you calculated will lie between 1,502 and 1,748?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

MEAN 6.0000 WHEN WE HAVE LARGE DATA SETS, WE GROUP THE DATA. IN THIS CASE OUR GROUPS WILL BE: STD DEV 2.17 IN A NORMAL DISTRIBUTION THE MEAN, MEDIAN AND MODE ARE ALL THE SAME NUMBER X-VALUES Z-VALUES...

What can we generate if we take the squares of standard deviation? * O Probability value O Mean value O Expected value O Variance If the variance of a probability distribution is 2.6 grams, what is...

Help me answer the ACTIVITIES below and follow the pages will rate you helpful thank you Direction: As part of the Five-step Procedure for Testing a Hypothesis, The Test Statistic plays a vital role...

1. Let X be a discrete random variable that may assume values x = 0; 1; 2 respectively with probabilities p1; 0:5; p2. Which values of p1 and p2 define a probability distribution? A p1 = 0.5 and p2 =...

MBA622 Syllabus Individual Work: Assignment 5 Resources Needed: \u0001 \u0001 \u0001 \u0001 Textbook: Review Chapters Software: Use Microsoft Excel to compute statistics and create tables, charts,...

Subject: Mathematics in the modern world Direction: Read the questions carefully. Shade the letter of the correct answer. if answer is net provided. shade letter E. Use the answer sheet provided and...

Written Homework #2 Math& 146 N2 Please, don't write your answers on a printout of this assignment, which would make them very hard to read, but use separate white (or at least very light) paper,...

WEEK 6 - HOMEWORK 6: LANE CHAPTERS, 11, 12, AND 13; ILLOWSKY CHAPTERS 9, 10 INTRODUCTION TO HYPOTHESIS TESTING WHAT IS A HYPOTHESIS TEST? Here we are testing claims about the TRUE POPULATION'S...

Answer the following: For numbers 1-4, refer to the problem below. A mayor of a certain town in Quezon province procures a number of face masks from different private distributors. He found out that...

Submit a summary of the main points of the case and applicability to the concepts discussed in the assigned textbook reading, High Low Art Value: How a Connoisseur became a Convict.

From the following details find out the correct amount of trade debtors. Debtors a/c appeared in the books of A/c Rs. 69,985. Includes the following (1) Rs. 6, 500 due from an employee on account of...

Prabody Company bums % OK of the outvtanding capital stock of Sloane Company, During 2 0 1 4 and 2 0 1 5 5 Sione Company rolds was $ 3 7 , 0 0 0 and 5 2 4 0 0 0 respectlively. At the end al each...

2023 1040 form 1.Phillip and Claire are married and file a joint return. Phillip is self-employed as a real estate agent, and Claire is a flight attendant. Phillip and Claire have three dependent...