Answered: A random sample of 20 employees was…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A random sample of 20 employees was collected from Brac University, to estimate the average daily time they spent on social media. Suppose that the population times have a normal distribution with a mean of 95 minutes and a standard deviation of 23 minutes.

b. What is the probability that the sample mean is outside the range of 90 to 100 minutes? Must find the exact number using Z-table(answer in three decimal places)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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