Question

Asked Oct 7, 2019

The average oversea tip cost is $2708 per visitors. If we assume a normal distribution with a standard distribution of $405, what is the probability that the cost for a randomly selected tip is more than $3000? If we select a random sample of 30 oversea tips and find the mean of the sample, what is the probability that the mean is greater than $3000? Explain?

Step 1

Given Data

Mean = 2708

Standard deviation = 405

Step 2

Mean of the sample would be same as the mean of the population as per central limit theorem

So mean = 2708

If we se...

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