The average yearly salary for an electrician is $51853. Suppose that the distribution is normal with a standard deviation equal to $4850. What is the probability that a random sample of 35 electricians had a mean income greater than $50123? Less than $49730? Assume that the sample is taken from a large population and the correction factor can be ignored. Express each probability as a percent rounded to two decimal places.   Income greater than $50123: ____% Income less than $49730: _____

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.