Suppose that the average outstanding credit card balance for young professionals is Php11,200 with standard deviation of Php 2,600. In simple random sample of 150 young professionals, what is the probability that the mean outstanding credit card balance does not exceeds Php12,300?

Suppose that the average outstanding credit card balance for young professionals is Php11,200 with standard deviation of Php 2,600. In simple random sample of 150 young professionals, what is the probability that the mean outstanding credit card balance does not exceeds Php12,300?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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3. Suppose that the average outstanding credit card balance for young professionals is Php11,200 with standard deviation of Php 2,600. In simple random sample of 150 young professionals, what is the probability that the mean outstanding credit card balance does not exceeds Php12,300?

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