
Concept explainers
To find: The

Answer to Problem 84E
Solution: The probability is 0.00017.
Explanation of Solution
Calculation: The sampling distribution of sample mean
The value of the mean and the standard deviation of the sampling distribution is calculated as:
And value of
The sampling distribution of
The probability that
The area left to the particular Z-score can be obtained using Excel. The following procedure is carried out in Excel:
Step 1: Open the Excel spreadsheet.
Step 2: Type
The area under the standard normal curve to the left of
Hence, the probability that
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Chapter 5 Solutions
Introduction to the Practice of Statistics
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- A firm paid its first annual dividend yesterday in the amount of $.15 per share. The company plans to double the dividend in each of the next 3 years. Starting in Year 4, the firm plans to pay $1.50 per share indefinitely. What is one share of this stock worth today if the market rate of return on similar securities is 13.8 percent? Multiple Choice $11.79 $8.92 $10.77 $11.02 $10.26arrow_forwardSuppose the random variable X is normally distributed with mean 80 and standard deviation 16. Find following probabilities. Find ‘b’ such that P(X ≥ b) = 0.975. Find the probability using a normal distribution table AND using ti-83 calculator. SHOW ALL STEPS PLEASE.arrow_forwardSuppose the random variable X is normally distributed with mean 80 and standard deviation 16. Find following probabilities. Equation: P(85 ≤ X ≤ 102). Find the probability using a normal distribution table AND using ti-83 calculator. SHOW ALL STEPS PLEASE.arrow_forward
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