What is the probability that the mean income

Assignment Help Business Management
Reference no: EM132103662

Problem: Please assist me with figuring this problem out.

The income for the US has a normal distribution with a population mean of $50,000 and a population standard deviation of $4,000.

a. A random sample of 1600 people was taken. What is the probability that the mean income for that sample will be greater than $50,200?

b. A random sample of 400 people was taken. What is the probability that the mean income for that sample will be greater than $49,700?

c. A random sample of 100 people was taken. What is the probability that the mean income for that sample will be less than $49,000?

Reference no: EM132103662

Questions Cloud

Percentage of observations in the entire distribution : If a distribution has a mean of 100 and a standard deviation of 20 what percentage of observations in the entire distribution are between 60 and 140?
Discuss two reasons why crime is hard to measure accurately : Discuss 2 reasons why crime is hard to measure accurately. The cause of crime is explained by the theory that some people are born evil.
Given a one independent variable linear equation : Given a one independent variable linear equation that states cost in $K, and given the following information
Ways in which foreign policy influence public health issues : PUBH6002 Global and environmental health issues Assessment - In your own words explain three ways in which foreign policy can influence public health issues
What is the probability that the mean income : A random sample of 1600 people was taken. What is the probability that the mean income for that sample will be greater than $50,200?
Calculate the magnitude of the total resultant force : The diagram below shows a block of mass m=2.00 kg on a frictionless horizontal surface, as seen from above. Three forces of magnitudes F1 = 4.00 N.
Determining the probability of finn : Find the probability that Finn took more than 3? minutes to get to work today, given that he took less than 43 minutes to get to work today.
Determine the resistance of a lightbulb : Determine the resistance of a 75-W lightbulb connected to its proper source voltage of 110 V. Determine the resistance of a 75-W lightbulb connected.
What is the current passing between the electrodes : Current passes through a solution of sodium chloride. In 1.00 second, 2.68 x 1016 Na+ ions arrive at the negative electrode and 3.92 x 1016 Cl-(minus).

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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