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What is the likelihood or the probability the sample mean

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Reference no: EM132849042

The mean amount purchased by a typical customer at Churchill's grocery Store is $23.50 with a standard deviation of $5.00. Assume the distribution of amounts purchased follows the normal distribution. For a sample of 50 customers, answer the following questions:

a. What is the likelihood or the probability the sample mean is at least $24.8?

b. Within what limits will 92 percent of the sample means occur?

Reference no: EM132849042

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