The distribution of salaries at a large company is right-skewed with a mean of $5000 and a standard deviation of $1500. a) Determine the sampling distribution of the mean salary for samples of size 80. b) If a sample of salaries of 80 employees is randomly selected, what is the probability that the sample mean salary will be within $100 of the population mean $5000 (the mean salary for all employees)?
The distribution of salaries at a large company is right-skewed with a mean of $5000 and a standard deviation of $1500. a) Determine the sampling distribution of the mean salary for samples of size 80. b) If a sample of salaries of 80 employees is randomly selected, what is the probability that the sample mean salary will be within $100 of the population mean $5000 (the mean salary for all employees)?
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 58E: What is meant by the sample space of an experiment?
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Question
The distribution of salaries at a large company is right-skewed with a mean of $5000 and a standard deviation of $1500.
-
a) Determine the sampling distribution of the mean salary for samples of size 80.
-
b) If a sample of salaries of 80 employees is randomly selected, what is the probability that the sample mean salary will be
within $100 of the population mean $5000 (the mean salary for all employees)?
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