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Standard deviation of the total amount raised

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Donations. Organizers of a televised fund raiser know from past experience that most people donate small amounts ($10 - $25), some donate larger amounts ($50 - $100), and a few people make very generous donations of $250, $500, or more. Historically, pledges average about $32 with a standard deviation of $54.

a) If 120 people call in pledges, what are the mean and standard deviation of the total amount raised?

b) What assumption did you make in answering this question?

Reference no: EM131748202

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