Probability of selecting sample with mean of at least value

Reference no: EM13142868

The mean amount of life insurance per household in the United States is $110,000. This distribution follows the normal distribution with a standard deviation of $40,000.

a) What is the likelihood of selecting a sample with a mean of at least $112,000?
b) Find the likelihood of selecting a sample with a mean of more than $100,000 but less than $112,000.

Reference no: EM13142868

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