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In the EAI sampling problem, the population mean is $51,700 and the population standard deviation is...

In the EAI sampling problem, the population mean is $51,700 and the population standard deviation is $4000 . When the sample size is n=30 , there is a .5034 probability of obtaining a sample mean within + or - 500 of the population mean. Use z-table.

a. What is the probability that the sample mean is within $500 of the population mean if a sample of size 60 is used (to 4 decimals)?

b. What is the probability that the sample mean is within $500 of the population mean if a sample of size 120 is used (to 4 decimals)?

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Answer #1

a. What is the probability that the sample mean is within $500 of the population mean if a sample of size 60 is used

We have to find:

b. What is the probability that the sample mean is within $500 of the population mean if a sample of size 120 is used (to 4 decimals)?

We have to find:

  

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