The mean per capita income is 18,904 dollars per annum with a standard deviation of 469 dollars per annum. What is the probability that the sample mean would be less than 18850 dollars if a sample of 333 persons is randomly selected? Round your answer to four decimal places.
Solution :
Given that ,
mean = = 18904
standard deviation = = 469
= / n = 469 / 333 = 25.7010
P( < ) = P(( - ) / < (18850 - 18904) / 25.7010)
= P(z < -2.1011)
= 0.0178
probability = 0.0178
The mean per capita income is 18,904 dollars per annum with a standard deviation of 469...
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