Computing likelihood of the sample mean

Reference no: EM1311569

Q1) Mean amount purchased by typical customer at Churchill's Grocery Store is $23.50 with a standard deviation of $5.00. Suppose distribution of amounts bought follows normal distribution. For sample of 50 customers, reply the following questions.

a) What is the likelihood the sample mean is at least $25.00?

b) What is the likelihood the sample mean is greater than $22.50 but less than $25.00?

c) Within what limits will 90 percent of the sample means occur?

Reference no: EM1311569

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