Probabilities for normally distributed data

Reference no: EM1391748

A local bank reported to the federal government that its 5,246 saving accounts have a mean of $1,000 and standard deviation of $240. Government auditors have asked to randomly sample 64 of the bank's accounts to assess the reliability of the mean balance reported by the bank. If the bank information is correct, what is the probability that the sample mean balance would be less than $928?

Reference no: EM1391748

Questions Cloud

Probability of sample proportion : Assume a random sample of 50 architects and engineers is selected. How likely is it that the random sample contain five or fewer women in these positions.

Outline knudson multistage theory of cancer : Discuss how is cancer different from most other types of genetic diseases? Outline Knudson's multistage theory of cancer and explain how it helps to unilateral and bilateral cases of retinoblastoma.

Most recent business trip-internal company visit : What is the probability that more than 25% of the business travelers say that the reason for their most recent business trip was an internal company visit?

Assume that you are offered a new piece of equipment : Assume that you are offered a new piece of equipment for $10,000.The equipment will produce 10,000 units per year with a margin of $6.00 per unit

Probabilities for normally distributed data : A local bank reported to the federal government that its 5,246 saving accounts have a mean of $1,000 and standard deviation of $240.

Allowing employess transferred to the outsourcing partner : allowing employess transferred to the outsourcing partner to rejoin the firm e. adverse corporate tax implications of assets transfers t the outsourcing partner

Discuss the principle of segregation : Discuss the principle of segregation? Explain why is it important? Determine the concept of dominance? How does dominance differ from incomplete dominance.

Probability that a randomly selected monthly cell phone : What is the probability that a randomly selected monthly cell phone bill is more than $100?

Our current equipment is fully deprieciated and can produce : Your current equipment is fully deprieciated and can produce 2,000 units per year with a margin of $4.00 per unit.Should you perchase the new equipment? Under what conditions?

User Account

All Pages