Average Annual Revenue Suppose That the Average Annual Revenue of a Small

question 16

Essay

Average Annual Revenue Suppose that the average annual revenue of a small business is $150,000 with a standard deviation of $40,000. Assume that the revenue distribution is normal. {Average Annual Revenue Narrative} What is the probability that the average annual revenue of a random sample of 4 businesses is less than $120,000?

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Definitions:

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