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Question 7 7 Marks The accounting vice president for a company indicates that from her experienos about errors on invoices, the mean amount of error per invoice is 60 cents and the standard deviation is 12 cents. She states that the distribution is skewed to the right. An internal auditor randomly samples 64 invoices and computes the sample mean amount of error. (8) Calculate the mean ( #, ) and standard deviation ( , ) for the sample mean of 64 invoices? (2 marks) (b) The sample mean computed by the auditor is 53 cents. Calculate the probability of finding a sample mean this high, or higher, given the values specified by the vice president? (2 marks] Question 7 (continued over page) Page 15 of 30 Term 2 Standard Examination 2017 Essential Statistics - STAT11048 Question 7 (continued) (c) What two (2) values, that are at an equal distance on either side of the moan ( #, ) wil encompass 95% of all possible sample means of 64 invoices