Question: can you please answer the below question 34. Information from the American Institute of Insurance indicates the mean amount of life ' insurance per household
can you please answer the below question

34. Information from the American Institute of Insurance indicates the mean amount of life ' insurance per household in the United States is $165000. This distribution follows the normal distribution with a standard deviation of 540.000. 3. If we select a random sample of 50 households, what is the standard error of the mean? b. What is the expected shape of the distribution of the sample mean? 1:. What is the likelihood of aeiecting a sample with a mean of at least $161000? :1. What is the likelihood of selecting a sample with a mean of more than 5155.000? e. Find the likelihood of selecting a sample with a mean of more than $155,000 but less than $161000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
