Question

According to a research​ institution, the average hotel price in a certain year was ​$98.23. Assume the population standard deviation is ​$24.00 and that a random sample of 30 hotels was selected. Complete parts a through d below.

a. Calculate the standard error of the mean.

sσx equals =​ ​(Round to two decimal places as​ needed.)

b. What is the probability that the sample mean will be less than ​$101​?

P(x with - on top<$101) = ​(Round to four decimal places as​ needed.)

c. What is the probability that the sample mean will be more than ​$106​?

P(x with - on top>$106) = ​(Round to four decimal places as​ needed.)

d. What is the probability that the sample mean will be between ​$97 and ​$98​?

P($97≤x with - on top≤$98) = ​(Round to four decimal places as​ needed.)

Answer 1