Suppose we are interested in the Annual Salary of Electronics Associated, Inc. (EAI) managers and we find that for a sample of n = 30 managers, there was 0.5034 probability of obtaining a sample mean within t $500 of the population mean (see the figure below). Sampling distribution of T O7= 730.30 P(51,300

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.3: Binomial Probability
Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...
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Suppose we are interested in the Annual Salary of Electronics Associated, Inc. (EAI) managers and we find that for a sample of n = 30 managers, there was 0.5034 probability of obtaining a sample mean within +
$500 of the population mean (see the figure below).
Sampling distribution
of T
07=730.30
P(51,300 <I< 52,300)
P(I<51,300)
51,300
51,800
52,300
For parts (a) and (b), let the sample mean be 51,800 and o = 4,000. (Round your answers to four decimal places.)
(a) What is the probability that x is within +$500 of the population mean if a sample of size 80 is used?
(b) Answer part (a) for a sample of size 160.
Transcribed Image Text:Suppose we are interested in the Annual Salary of Electronics Associated, Inc. (EAI) managers and we find that for a sample of n = 30 managers, there was 0.5034 probability of obtaining a sample mean within + $500 of the population mean (see the figure below). Sampling distribution of T 07=730.30 P(51,300 <I< 52,300) P(I<51,300) 51,300 51,800 52,300 For parts (a) and (b), let the sample mean be 51,800 and o = 4,000. (Round your answers to four decimal places.) (a) What is the probability that x is within +$500 of the population mean if a sample of size 80 is used? (b) Answer part (a) for a sample of size 160.
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