Calculate the probability that the price of large popcorn

Reference no: EM13621267

Assuming that the true Mean of the population is 5, the Standard Deviation of the population is 0.75.

1- Calculate the corresponding Z score for a price of 3.5 using the formula

(X - µ)/?

2- Calculate the corresponding Z score for a price of 6.5.

3- Calculate the probability that the price of large popcorn falls between 3.5 and 6.5.

4- Assuming that the Mean of prices for the sample of 50 theaters is 6. Tell us whether this result was obtained by chance or if it is significantly different than the Mean of the population.

Reference no: EM13621267

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