The average price of a college math textbook is $152 and the standard deviation is $20. Suppose that 49 textbooks are randomly chosen. Round all answers to 4 decimal places where possible. a. What is the distribution of ? T ~ N( b. For the group of 49, find the probability that the average price is between $156 and $159. c. Find the third quartile for the average textbook price for this sample size. $ (round to the nearest cent)

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Average

In mathematics, everyone must have heard the term average in one place or other. Almost all types of calculation require taking out an average. In everyday life, the term is used for denoting a certain amount that can be said to be a typical quantity for multiple people or objects. In other words, if a group of people possesses a certain object, then the average gives us an idea regarding the quantity of the object possessed by each person. However, this is solely based on mathematical calculation. It is important to note that most people will not strictly have the average value in a group.