What is the probability that a random sample

Assignment Help Microeconomics
Reference no: EM13692463

The weight of people in a small town in Missouri is known to be normally distributed with a mean of 173 pounds and a standard deviation of 28 pounds. On a raft that takes people across the river, a sign states, “Maximum capacity 3,528 pounds or 18 persons.” What is the probability that a random sample of 18 persons will exceed the weight limit of 3,528 pounds?

What is the probability?

 

Reference no: EM13692463

Questions Cloud

Part of the administrative burden of a tax : Part of the administrative burden of a tax is
Decreased from about ten percent to less than one percent : From 1950 to today, government spending on Social Security, Medicare, and Medicaid as a percentage of GDP has. decreased from about ten percent to less than one percent.
Market output and the profit at the equilibrium : Suppose that the inverse demand function is given by P=50-Q, and cost function of a firm is C=5qi:  For a competitive industry, find the market price, market output and the profit at the equilibrium.
More money to make their everyday purchases : As you may recall from the readings, money demand rises when the price level rises because people will need more money to make their everyday purchases. For example, if the price index rose from 100 to 140.
What is the probability that a random sample : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..
Steady equilibrium as outlined in the solow model growth : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

Reviews

Write a Review

Microeconomics Questions & Answers

  Difference-total variable costs-average variable cost

Determine the difference between Total Variable Costs (TVC), Average Variable Costs (AVC) and Marginal Costs (MC).

  Describe how can we save social security

For this week, we are continuing our discussion on GDP and economic growth. We will realize that most of government spending goes towards welfare such as social security. However, it is a common belief that social security benefits

  Overall impact of this resettling of the fiscal variables

Suppose we have an economy in which G = 100, t = 0.26, Y = 3800, and YN = 4000. Then t rises to 0.28 as the same time as G rises to 1150. The overall impact of this resettling of the fiscal variables is ________ because ________.

  What is probability that the company will win both contracts

An aerospace company has submitted bids on two separate government contracts, A and B. It feels it has a 50% chance of winning contract A and a 40% chance of winning contract B. Furthermore, it believes that winning contract A is independent of winni..

  How to keep real income constant

You heard that you are being transferred to California where housing is 50% more expensive. In negotiating a new salary, your objective is to keep your real income constant.

  Why does borrowing constitute negative saving

1. Why does borrowing constitute negative saving 2. Given that a negative flow of annual national saving implies that residents of the United States are net borrowers, who must be funding this borrowing each year

  How an increase in the discount rate is a signal

Assuming an economy is initially at potential output, an expansionary monetary policy will: A) not affect output in the long run. B) not affect output in either the short run or the long run. C) affect output, but only in the long run. D) affect o..

  Summarize firms history its recent and current operating

select a global fortune 500 company it cannot be one you work for that operates in the united states and in other

  1 aggregate expenditure what are the components of

1. aggregate expenditure what are the components of aggregate expenditure? in the model developed in this chapter which

  Confidence interval for the population mean

A simple random sample of size n = 210 is drawn from a population. The sample mean is found to be overbear above x = 20.1, and the sample standard deviation is found to be s= 3.2. Construct a 90 percent confidence interval for the population mean.

  Yen appreciated relative to the dollar even though

In the mid-to-late 1970's, the yen appreciated relative to the dollar even though Japan's inflation rate was higher than America's.

  Describe how selected technological tools will impact

according to naeyc effective practices involving technology allow children to explore digital materials in the context

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