Unusual for the mean of a sample

Assignment Help Business Economics
Reference no: EM132125000

Given a business situation word problem or case study such as one dealing with processing time or quantity of fill, use the normal probability distribution to determine a course of action. Assume that a population is normally distributed with a mean of 100 and a standard deviation of 15. Would it be unusual for the mean of a sample of 3 to be 115 or more? Why or why not?

Reference no: EM132125000

Questions Cloud

What does moral imagination have in common with other types : Can you think of a time when you or someone whom you know used moral imagination? If so, what motivated you (or this individual) to use moral imagination?
Complete the probability question : Please explain which formula I should use to complete the following probability question:
Organizing function is demonstrated when management gathers : Fayol’s organizing function is demonstrated when management gathers and synchronizes the resources of the organization
What are possibilities for resources and ancillary services : Professionals in the field of vocational rehabilitation work in a variety of settings. The core commonality of all settings for professionals in the field.
Unusual for the mean of a sample : Assume that a population is normally distributed with a mean of 100 and a standard deviation of 15.
What is the probability that its weight : Suppose you select a single seed at random. What is the probability that its weight is greater than 0.42 grams?
What is the probability that its pbg will be between : If a Wistar rat is chosen at random, what is the probability that its PBG will be between 5 and 7 mmol/L?
Respect to the standard normal distribution : The question is: Suppose Z ~ N(0,1). (a) Find c such that P(Z = c) = 0.75. (b) With respect to the standard normal distribution.
County appellate court of the state judicial system : According to the Constitution, the only court with original and appellate jurisdiction is the County Appellate Court of the State Judicial System.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd