Question: In the EAI sampling problem, the population mean is $51,100 and the population standard deviation is $5,000. When the sample size is n = 20,

In the EAI sampling problem, the population mean is $51,100 and the population standard deviation is $5,000. When the sample size isn= 20, there is a 0.3472 probability of obtaining a sample mean within +/- $500 of the population mean.

a.What is the probability that the sample mean is within $500 of the population mean if a sample of size 40 is used (to 4 decimals)?

b.What is the probability that the sample mean is within $500 of the population mean if a sample of size 80 is used (to 4 decimals)?

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!

Consider the following questions about Confidence Intervals (CI). A researcher tests Emotional Intelligence (EI) for a random sample of children selected from a population of all students who are...

Suppose we want to test the following hypotheses regarding a particular population mean: H0: 1500 hours Assume sample size is 100 and that the population standard deviation is...

18. A population has a mean of 200 and a standard deviation of 50. A sample of size 100 will be taken and the sample meanwill be used to estimate the population mean. a. What is the expected value...

In the EAI sampling problem, the population mean is $71,800 and the population standard deviation is $4,000. When the sample size is n = 30, there is a 0.5064 probability of obtaining a sample mean...

In the EAI sampling problem, the population mean is $71,800 and the population standard deviation is $4,000. When the sample size is n = 30, there is a .5064 probability of obtaining a sample mean...

In the EAI sampling problem, the population mean is $71,400 ad the population standard deviation is $5000. For n=30, there is a 0.4908 probability of obtaining a sample mean within $600 of the...

PLEASE PAY CLOSE ATTENTION TO WHAT IS BEING ASKED IN QUESTIONS. I have arrange the questions 1-6, please only provide answer with question number and part (ex. 1a, 1b, 2a, 2b, etc.). No explanation...

22. Sampling Distribution for Electronic Associates, Inc., Managers. Refer to the EAI sampling problem. Suppose a simple random sample of 60 managers is used. a. Sketch the sampling distribution of x...

Sampling Distribution for Electronic Associates, Inc., Managers. Refer to the EAI sampling problem. Suppose a simple random sample of 60 employees is used. a. Sketch the sampling distribution of when...

22. Refer to the EAI sampling problem. Suppose a simple random sample of 60 managers is used. a. Sketch the sampling distribution of when simple random samples of size 60 are used. b. What happens to...

Question 3 (20 points) Passie Smart is preparing a tax report for Salmo Pesto. Passie notices that his income has dropped from the year before. She also notices that he sold some stocks during the...

Match the following terms and definitions. a. dynamic password b. token device (TD) c. single sign-on (SSO) d. Intrusion Prevention System (IPS) e. input controls f. output controls g....

Question 2 of 20 The nurse is talking with a 9-year-old child diagnosed with acute leukemia who will soon begin chemotherapy. The child expresses worry that when their hair falls out friends won't...

Julian Birkinshaw, James Manktelow, Vittorio DAmato, Elena Tosca, and Francesca Macchi In recent years, one of the most profound transformations in the workplace has been the increase in age...