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eBook Barrons reported that the average number of weeks an individual is unemployed is 21 weeks. Assume that for the populat
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Answer #1

\small \mu = 21, \sigma = 6, n =45

a) E(x) = \mu = 21

\small \sigma(\bar x)= \sigma/\sqrt{n}=6/\sqrt{45} = \textbf{0.89}

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b) Sample mean within 1 week of population mean = \small |\bar x -\mu | = \pm 1

\small \\ \\ = P(|\bar x -\mu | < 1) \\ \\ = P\left ( -1 <\bar x-\mu<1 \right ) \\ \\ = P\left ( \frac{-1}{0.89}<\frac{\bar x-\mu}{\sigma(\bar x)} <\frac{1}{0.89}\right ) \\ \\ =P(-1.1180<z<1.1180) \\ \\ = P(z<1.1180)-P(z<-1.1180) \\ \\ \textup{ Using excel function:} \\ \\ = NORM.S.DIST( 1.1180 ,1) - NORM.S.DIST( -1.1180 ,1) \\ \\= \textbf{0.7364}

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C) Sample mean within 1/2 week of population mean =\small |\bar x -\mu | = \pm 0.5

\small \\ \\ = P(|\bar x -\mu | < 0.5) \\ \\ = P\left ( -0.5<\bar x-\mu<0.5 \right ) \\ \\ = P\left ( \frac{-0.5}{0.89}<\frac{\bar x-\mu}{\sigma(\bar x)} <\frac{0.5}{0.89}\right ) \\ \\ =P(-0.559<z<0.559) \\ \\ = P(z<0.559)-P(z<-0.559) \\ \\ \textup{ Using excel function:} \\ \\ = NORM.S.DIST( 0.559 ,1) - NORM.S.DIST( -0.559 ,1) \\ \\= \textbf{0.4238 }

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