Suppose That I Know That in the Population of Bees

question 10

Essay

Suppose that I know that in the population of bees in California, the average number of flowers pollinated per day is 10 with a standard deviation of 4. I select a random sample of 25 California bees. What is the probability that my sample mean will be 11 or more flowers pollinated?

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Definitions:

Deadweight Loss

Deadweight loss is an economic inefficiency resulting from a disparity between supply and demand, often caused by market interventions like taxes or price controls, resulting in potential benefits not realized by any party.

Tax Revenue

The total amount of money collected by the government from taxes, which is then used for public expenditures.

Excise Tax

A tax levied on specific goods or services, such as tobacco, alcohol, and gasoline, usually with the aim of reducing consumption or raising revenue.