Two Random Samples of Sizes 30 and 36 Are Selected

question 43

Essay

Two random samples of sizes 30 and 36 are selected independently from two populations with means 80 and 88, and standard deviations 15 and 20, respectively.
a.
Find the standard error of the difference betweenand.
b.
Find the probability that the mean of the first sample is smaller than the mean of the second sample.

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Definitions:

Break-Even Point

The level of production or sales at which total revenues equal total expenses, resulting in no profit or loss.

Variable Expenses

Variable expenses change in proportion with business activity or production levels, such as raw materials costs, directly influenced by the volume of output.

Break-Even Point

The point at which total costs and total revenue are equal, meaning the business is not making a profit or a loss.

Net Loss

The amount by which expenses exceed revenues, indicating a negative profit.