THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 7

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
In a recent survey of high school students,it was found that the average amount of money spent on entertainment each week was normally distributed with a mean of $52.30 and a standard deviation of $18.23.Assume that these values are representative of all high school students.
-The probability is 65% that the average spending of a sample of 25 randomly-selected students will spend at least how much?

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Definitions:

Semiannual Interest Payments

Interest payments made twice a year on a loan or bond.

Equity Method

An accounting technique used to record investments in other companies, reflecting the investor's share of the investee's profits or losses.

Outstanding Stock

Shares of a company that have been issued and are currently held by investors.

Net Income

The net income a company earns following the subtraction of all costs, taxes, and expenses from its total revenue.