A Population Has a Mean of 60

question 66

Short Answer

A population has a mean of 60.5 and a standard deviation of 13.5.Assuming ,the probability,rounded to four decimal places,that the sample mean of a sample of size 35 elements selected from this populations will be between 62.5 and 67.1 is:

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Definitions:

Per Annum

An annual occurrence or rate, indicating something that happens or is calculated over the course of a year.

Variable Rate

An interest rate that can fluctuate over the duration of a loan or savings account, based on the market or an index.

Preceding August

Indicates a time period or events that occurred before the month of August.

Payment Stream

A series of payments made or received over time, usually as part of a financial agreement such as a mortgage or annuity.