Suppose the Population of All Public Universities Shows the Annual

question 37

Multiple Choice

Suppose the population of all public Universities shows the annual parking fee per student is normally distributed with a mean of $110 with a standard deviation of $18.If a random sample of size 49 is drawn from the population, the probability of drawing a sample with a mean of less than $92 is _______.

• A)0.3400
• B)0.1600
• C)0.0000
• D)1.0000
• E)0.7000

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Definitions:

Probable Event

An event that is likely to occur based on current evidence or past experience.

Estimable Amount

A quantifiable sum that can be accurately predicted or approximated in the accounting records.

Interest Calculations

The process of determining the interest payment on a loan or investment, based on the principal, rate, and time.

Merchandise

Merchandise consists of goods that a retailer purchases to sell to its customers for profit.