Retirees a Sample of 50 Retirees Is Drawn at Random

question 98

Essay

Retirees
A sample of 50 retirees is drawn at random from a normal population whose mean age and standard deviation are 75 and 6 years,respectively. ​ ​
-{Retirees Narrative} What is the probability that the mean age exceeds 73 years?

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Definitions:

Stock Dividend

A form of dividend payment made by a corporation to its shareholders in the form of additional shares, rather than cash.

Retained Earnings

The portion of a company's profits not distributed as dividends to shareholders but retained for reinvestment in the business.

Par Value

Refers to the face value of a bond or the stock value stated in the corporate charter, establishing a minimum price per share for stocks issued.

Dividend Income

Income received from owning shares of a company that pays dividends, representing a portion of the company's profits distributed to shareholders.