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the mean per capita income is 21,604 dollars per annum with a standard deviation of 727...

the mean per capita income is 21,604 dollars per annum with a standard deviation of 727 dollars per annum. what is the probability that the sample mean would differ from the true mean by less than 36 dollars if a sample of 193 persons is randomly selected?

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Answer #1

Solution :

= / n = 727 / 193

= P[(-36) / 727 / 193 < ( - ) / < (36) / 727 / 193)]

= P(-0.69 < Z < 0.69)

= P(Z < 0.69) - P(Z < -0.69)

= 0.5098

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