A recent article published in a medical journal stated that the mean amount spent per person on prescription drugs in a recent year in the United States was about $400 with a standard deviation of $54. A random sample of 150 U.S. residents taken from the population found that the estimated mean amount spent per person on prescription drugs every year is $410. (a) Calculate the mean of the sampling distribution of the sample mean. $ (b) Calculate the standard deviation of the sampling distribution of the sample mean. (Round your answer to four decimal places.) $ (c) Write a probability statement that can be used to calculate the probability of obtaining a sample result of a mean of $410 or more if the true population mean is $400. P(x ≤ 410)P(x ≥ 400) P(x ≥ 410)P(x ≤ 400) (d) Calculate the probability of obtaining a sample result of a mean of $410 or more if the true population mean is 400. (Use SALT. Round your answer to four decimal places.)
A recent article published in a medical journal stated that the mean amount spent per person on prescription drugs in a recent year in the United States was about $400 with a standard deviation of $54. A random sample of 150 U.S. residents taken from the population found that the estimated mean amount spent per person on prescription drugs every year is $410. (a) Calculate the mean of the sampling distribution of the sample mean. $ (b) Calculate the standard deviation of the sampling distribution of the sample mean. (Round your answer to four decimal places.) $ (c) Write a probability statement that can be used to calculate the probability of obtaining a sample result of a mean of $410 or more if the true population mean is $400. P(x ≤ 410)P(x ≥ 400) P(x ≥ 410)P(x ≤ 400) (d) Calculate the probability of obtaining a sample result of a mean of $410 or more if the true population mean is 400. (Use SALT. Round your answer to four decimal places.)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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A recent article published in a medical journal stated that the mean amount spent per person on prescription drugs in a recent year in the United States was about $400 with a standard deviation of $54. A random sample of 150 U.S. residents taken from the population found that the estimated mean amount spent per person on prescription drugs every year is $410.
(a)
Calculate the mean of the sampling distribution of the sample mean.
$
(b)
Calculate the standard deviation of the sampling distribution of the sample mean. (Round your answer to four decimal places.)
$
(c)
Write a probability statement that can be used to calculate the probability of obtaining a sample result of a mean of $410 or more if the true population mean is $400.
P(x ≤ 410)P(x ≥ 400) P(x ≥ 410)P(x ≤ 400)
(d)
Calculate the probability of obtaining a sample result of a mean of $410 or more if the true population mean is 400. (Use SALT. Round your answer to four decimal places.)
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