30 random samples of 36 units each were drawn from a population that had a mean price of 62 and a standard deviation of 12. a. Determine the probability that the mean value of the sample is greater than 60.5. b. How many units are in the sample so that 93% of the sample average price shows a smaller price 64.5. c. If the number of samples whose average is greater than 60 is 18 units, and the number of units in each sample is kept the same as 36 units, then determine what the value of the process standard deviation is.

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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30 random samples of 36 units each were
drawn from a population that had a mean
price of 62 and a standard deviation of 12.
a. Determine the probability that the mean
value of the sample is greater than 60.5.
b. How many units are in the sample so that
93% of the sample average price shows a
smaller price 64.5.
c. If the number of samples whose average is
greater than 60 is 18 units, and the number of
units in each sample is kept the same as 36
units, then determine what the value of the
process standard deviation is.
Transcribed Image Text:30 random samples of 36 units each were drawn from a population that had a mean price of 62 and a standard deviation of 12. a. Determine the probability that the mean value of the sample is greater than 60.5. b. How many units are in the sample so that 93% of the sample average price shows a smaller price 64.5. c. If the number of samples whose average is greater than 60 is 18 units, and the number of units in each sample is kept the same as 36 units, then determine what the value of the process standard deviation is.
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