In the EAI sampling problem, the population mean is $51,400 and the population standard deviation is $4,000. When the sample size isn = 20, there is a 0.4972 probability of obtaining a sample mean within ±$600 of the population mean. Use z-table. a. What is the probability that the sample mean is within $600 of the population mean if a sample of size 40 is used (to 4 decimals)? b. What is the probability that the sample mean is within $600 of the population mean if a sample of size 80 is used (to 4 decimals)?
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In the EAI sampling problem, the population mean is $51,400 and the population standard deviation is $4,000. When the sample size isn = 20, there is a 0.4972 probability of obtaining a sample mean within ±$600 of the population mean. Use z-table. a. What is the probability that the sample mean is within $600 of the population mean if a sample of size 40 is used (to 4 decimals)? b. What is the probability that the sample mean is within $600 of the population mean if a sample of size 80 is used (to 4 decimals)?
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