The average age of accountants is 43 years, with a standard deviation of 5 years. If an accounting firm employs 30 accountants, find the probability that the average age of the group is greater than 44.2 years old.
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
The average age of accountants is 43 years, with a standard deviation of 5 years. If an accounting firm employs 30 accountants, find the
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Where do you get 0.9049 or it should be 0.4049 according to z table?
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