Question

A leading magazine (like Barron's) reported at one time that the average number of weeks an individual is unemployed is 36 weeks. Assume that for the population of all unemployed individuals the population mean length of unemployment is 36 weeks and that the population standard deviation is 4 weeks. Suppose you would like to select a random sample of 61 unemployed individuals for a follow-up study.

Find the probability that a single randomly selected value is greater than 36.3.
P(X > 36.3) =  (Enter your answers as numbers accurate to 4 decimal places.)

Find the probability that a sample of size n=61n=61 is randomly selected with a mean greater than 36.3.
P(M > 36.3) =  (Enter your answers as numbers accurate to 4 decimal places.)

Answer 1

[ The above probability is available from the Standard Normal distribution table and also from using the function =1-NORMSDIST(0.075) in Excel 07. ]

.