Question: Using the same scenario, suppose a random sample of 49 was selected and its average income was $37,000. Follow the same procedure to determine how

  1. Using the same scenario, suppose a random sample of 49 was selected and its average income was $37,000. Follow the same procedure to determine how unusual this would be.
    1. Construct/draw the theoretical sampling distribution of the mean for an N of 49. What is its mean? What is its standard deviation (i.e., standard error)?
  2. What is the probability of selecting a sample of 49 with a mean income of $37,000 or above?
  3. What is the probability of selecting a sample of 49 with a mean income of 30,000 or below?

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