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The useful life of a bicycle bought at Basement-mart fits a log normal distribution with a...

The useful life of a bicycle bought at Basement-mart fits a log normal distribution with a mean of 24 months and a standard deviation of 11.11 months. Suppose that 61 bicycles are randomly chosen, and let ¯¯¯ X = the average useful life of a bicycle bought at Basement-mart, from a sample of 61 bicycles (in months).

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The useful life of a bicycle bought at Basement-mart fits a log normal distribution with a mean of 24 months and a standard deviation of 11.11 months. Suppose that 61 bicycles are randomly chosen, and let ¯¯¯ X = the average useful life of a bicycle bought at Basement-mart, from a sample of 61 bicycles (in months).

mean = 24

Standard deviation = 11.11

n = 61

n>30 large sample follows normla distribution with mean = 24 and

Stddev

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