SCENARIO 7-7 Times Spent Studying by Students in the Week Before Final

question 3

Short Answer

SCENARIO 7-7
Times spent studying by students in the week before final exams follow a normal distribution with standard deviation 8 hours.A random sample of 4 students was taken from a population of 50 in order to estimate the mean study time for the population of all students.Use the finite population correction.
-Referring to Scenario 7-7,what is the probability that the sample mean is more than 3 hours below the population mean?

---

Definitions:

Finance Operations

Activities related to managing an organization's money, including income and expenses, to maximize profits and ensure sustainability.

Capital Structure

The mix of a company's debt and equity financing, reflecting how a business is funded.

Debt

An amount of money borrowed by one party from another, often with the condition of repayment with interest over a specified period.

Equity

The ownership value held in assets after all debts and liabilities have been subtracted, often referred to as shareholder's equity in a corporation.