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In the EAI sampling problem, the population mean is $71,300 and the population standard deviation is $5000. For n = 30, there is a 0.4176 probability of obtaining a sample mean within ±$500 of the population mean. Use z-table. a. What is the probability that is within $500 of the population mean if a sample of size 60 is used (to 4 decimals)? 0.5588 b. Answer part (a) for a sample of size 120 (to 4 decimals). 0.7260

In the EAI sampling problem, the population mean is $71,300 and the population standard deviation is $5000. For n = 30, there is a 0.4176 probability of obtaining a sample mean within ±$500 of the population mean. Use z-table. a. What is the probability that is within $500 of the population mean if a sample of size 60 is used (to 4 decimals)? 0.5588 b. Answer part (a) for a sample of size 120 (to 4 decimals). 0.7260

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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In the EAI sampling problem, the population mean is $71,300 and the population standard deviation is $5000. For n = 30, there is a 0.4176 probability of obtaining a sample mean within ±$500 of the population mean. Use z-table. a. What is the probability that is within $500 of the population mean if a sample of size 60 is used (to 4 decimals)? 0.5588 b. Answer part (a) for a sample of size 120 (to 4 decimals). 0.7260
Transcribed Image Text:In the EAI sampling problem, the population mean is $71,300 and the population standard deviation is $5000. For n = 30, there is a 0.4176 probability of obtaining a sample mean within ±$500 of the population mean. Use z-table. a. What is the probability that is within $500 of the population mean if a sample of size 60 is used (to 4 decimals)? 0.5588 b. Answer part (a) for a sample of size 120 (to 4 decimals). 0.7260
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