What is the probability that the sample mean

Assignment Help Business Economics
Reference no: EM132151537

A particular camera is sold at an average price of $190, with a standard deviation of $12. In a sample of 50 randomly selected stores, what is the probability that the sample mean falls within $4 (i.e., between $186 and $194) of the population mean?

Reference no: EM132151537

Questions Cloud

Compute the wacc based on the following scenario : Compute the WACC based on the following scenario if the company's effective income tax rate is 37.5%.
Relationship between ci and hypothesis tests : You calculate a 90% confidence interval for µ and come up with (-10, 26). If you test H0: µ = 27 and use a = .10, will you reject H0? Why or why not?
What are some soft skills critical to security professionals : Having technical skills, experience, and certifications are all helpful. What are some "soft skills" critical to security professionals and why?
What is the time efficiency class of your algorithm : Design an algorithm that lists the teams in a sequence so that every team did not lose the game with the team listed immediately after it.
What is the probability that the sample mean : what is the probability that the sample mean falls within $4 (i.e., between $186 and $194) of the population mean?
How long does it take before the sequence number goes back : TCP s sending data at 1 MBps. If the sequence number starts with 7,000 how long does it take before the sequence number goes back to zero?
What type of ca infrastructure would you design : What type of CA infrastructure would you design and implement and why?
Compare and contrast two life cycle models : Your team is working on a software application project to create a mobile application that allows customers to reserve tables at local restaurants.
Prepare a functional description on the selected system : Prepare a functional description on the selected system (a collection of related programs) or program.

Reviews

Write a Review

Business Economics Questions & Answers

  Utility function between food and clothing

If the utility function (U) between food (F) and clothing (C) can be represented as U = FC, the marginal rate of substitution of clothing for food equals? Please explain how to het MRS from utility function and formula?

  Illustrate what are the formulae for both average economy

Jack is in the umbrella making business. The economic cost of each umbrella is $2. Illustrate what are the formulae for both the average economic cost curve and marginal cost curve.

  Firm contingent demand function for labor input

Consider the following firm (indirect) cost function: C(v,w,q) = 2(q·v·w)0.50. At q0 = 100, w = $20, v = $5, the (contingent) quantity demanded for labor input lc is what number? NOTE: write your answer in number format, with 2 decimal places of prec..

  Basic principles of economics

The purpose of this is assignment is for students to review the basic principles of economics and the concepts of the circular flow model.

  When pauline puffington died

When Pauline Puffington died, she left her entire estate of $3 million to a trust for the care of her twelve dogs and fourteen cats. After the pets' deaths

  Is the concept of a just price a positive or a normative

Is the concept of a just price a positive or a normative concept? Why?

  Price maker since there are no close substitutes to product

In a Monopoly market, a firm is a price maker since there are no close substitutes to the product. You are asked to find the company’s Shut-Down, Break-Even, and Profit-Maximization points. Fixed Costs remains at $1,000.00. Graph the TC and TR on one..

  Balanced such that neither runs a trade deficit nor surplus

Assume the world has only the U.S. and Germany, and that trade between them is balanced such that neither runs a trade deficit nor surplus. If exchange rates now change such that the U.S. dollar becomes more expensive for Germans to buy (and all else..

  Relationship between amount of enhancer and ranking

Comment on the relationship between the amount of enhancer and the ranking by the panel. Clearly justify your claim.

  Describe each of the economic functions of money

Describe each of the following economic functions of money and provide an example of each: (1) medium of exchange; (2) standard of value; and (3) store of value.

  The demand for beer when average consumer rises

Where P is the price of beer, PN is the price of nuts, and I is average consumer income. What happens to the demand for beer when the price of nuts goes up? Are beer and nuts demand substitutes or demand complements? What happens to the demand for be..

  Is there subgame perfect equilibrium

You are considering entering a market serviced by a monopolist. You currently earn $0 economic profits, while the monopolist earns $5. If you enter the market and the monopolist engages in a price war, you will lose $5 and the monopolist will earn $1..

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