Suppose that, according to a recent census, the income per capita measured in US dollars was...
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Suppose that, according to a recent census, the income per capita measured in US dollars was $42,655 in country A and $45,636 in country B. Assume that income per capita is Normally distributed with a standard deviation equal to 35% of the mean for each country. A random sample of five people in country A and five people in country B is selected a) What is the probability that the mean income of the sample from country A is above $45,6367 b) What is the probability that the mean income of the sample from country B is above $42,655? c) What would be the effect of not assuming that the income per capita is Normally distributed? a) The probability is (Round to four decimal places as needed.) Suppose that, according to a recent census, the income per capita measured in US dollars was $42,655 in country A and $45,636 in country B. Assume that income per capita is Normally distributed with a standard deviation equal to 35% of the mean for each country. A random sample of five people in country A and five people in country B is selected a) What is the probability that the mean income of the sample from country A is above $45,6367 b) What is the probability that the mean income of the sample from country B is above $42,655? c) What would be the effect of not assuming that the income per capita is Normally distributed? a) The probability is (Round to four decimal places as needed.)
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