Jonathan, a college business student wants to study how many pages of notes fellow classmates took during a semester for a finance class. Past data reveals that pages of notes for a finance college class has a mean of 90, with standard deviation 20 pages. The normal distribution for the population is shown by the dotted black line. He plans to take a random sample of 30 such college students and will calculate the mean pages of notes they take to compare to the known pages of notes students take for a finance college class. Compute the the mean and standard deviation of the sampling distribution of sample means for a sample of size 30. Round your answers to the nearest tenth.
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
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