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Solve the problem. Round your answer to one decimal place, if necessary.
-The distribution of sample means for the ages of employees at a particular company for samples of 200 employees is normal with a mean of 40 and a standard deviation of 0.73. Suppose you take a random sample of 200 employees from the company and find that their mean age is 38.2. How many standard deviations is the sample mean from the mean of the distribution of sample means?
Monthly Interest Rate
The rate of interest applied to a loan or earned from an investment throughout a one-month timeline.
Sales Price
The amount for which something is sold or the price that a buyer pays for a product or service.
Carrying Cost
The total cost of holding inventory, including storage, insurance, and opportunity costs, among others.
Average Inventory
The mean value of inventory over a certain period, calculated to help businesses understand inventory levels and cost of goods sold.
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