THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 108

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Let the random variable X follow a normal distribution with a mean of μ and a standard deviation of σ.Let
₁ be the mean of a sample of 16 observations randomly chosen from this population,and
₂ be the mean of a sample of 25 observations randomly chosen from the same population.
-Suppose that 15% of all invoices are for amounts greater than $1,000.A random sample of 60 invoices is taken.What is the mean and standard error of the sample proportion of invoices with amounts in excess of $1,000? What is the probability that the proportion of invoices in the sample is greater than 18%?

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Definitions:

Genetic

Relating to genes or heredity, involving the transmission of characteristics from parents to offspring through DNA.

Vascular Disease

A class of diseases involving the blood vessels (arteries, veins, and capillaries) that can lead to major health problems, such as heart attack or stroke.

Successive Strokes

Consecutive movements or hits, often used in the context of writing, painting, or playing musical instruments.

Middle Age

A period of adult life typically regarded as occurring from around 45 to 65 years of age, characterized by personal, social, and career transitions.