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(a) What is the probability that x is within +$500 of the population mean if a sample of size 70 is used? (b) Answer part (a) for a sample of size 140.

(a) What is the probability that x is within +$500 of the population mean if a sample of size 70 is used? (b) Answer part (a) for a sample of size 140.

College Algebra (MindTap Course List)
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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You may need to use the appropriate appendix table or technology to answer this question. 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 I Oz= 730.30 P(51,300 <I<52,300) P(T<51,300) 51,300 51,800 52,300 For parts (a) and (b), let the population 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 70 is used? (b) Answer part (a) for a sample of size 140.
Transcribed Image Text:You may need to use the appropriate appendix table or technology to answer this question. 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 I Oz= 730.30 P(51,300 <I<52,300) P(T<51,300) 51,300 51,800 52,300 For parts (a) and (b), let the population 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 70 is used? (b) Answer part (a) for a sample of size 140.
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