A Sample of Size 400 Is Drawn from a Population $\bar { X }$

question 33

Short Answer

A sample of size 400 is drawn from a population whose mean and variance are 5000 and 10 000, respectively. Find the following probabilities.
a. P( $\bar { X }$ < 4,990).
b. P(4995 < $\bar { X }$ < 5010).
c. P( $\bar { X }$ = 5000).

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Definitions:

Balance Trade Deficit

A situation where the value of a country's imports exceeds the value of its exports, leading to a negative balance of trade.

Consumption

The use of goods and services by households. It includes expenditures on goods and services, except for purchases of new housing.

Depreciation

The process by which physical assets lose value over time due to wear, tear, or obsolescence, affecting their monetary worth on financial statements.

Real GDP

Gross Domestic Product adjusted for inflation, providing a more accurate representation of an economy's size and how it's grown over time.