Loose Leaf for Statistical Techniques in Business and Economics (Mcgraw-hill/Irwin Series in Operations and Decision Sciences)
Loose Leaf for Statistical Techniques in Business and Economics (Mcgraw-hill/Irwin Series in Operations and Decision Sciences)
16th Edition
ISBN: 9780077639709
Author: Douglas A. Lind, William G Marchal, Samuel A. Wathen
Publisher: McGraw-Hill Education
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Chapter 8, Problem 36CE

A recent study by the Greater Los Angeles Taxi Drivers Association showed that the mean fare charged for service from Hermosa Beach to Los Angeles International Airport is $21 and the standard deviation is $3.50. We select a sample of 15 fares.

  1. a. What is the likelihood that the sample mean is between $20 and $23?
  2. b. What must you assume to make the above calculation?
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Loose Leaf for Statistical Techniques in Business and Economics (Mcgraw-hill/Irwin Series in Operations and Decision Sciences)

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