THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 82

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Times spent studying by students in the week before final exams follow a normal distribution with standard deviation 9 hours.A random sample of 5 students was taken in order to estimate the mean study time for the population of all students.
-What is the probability that the sample mean is more than 3.2 hours below the population mean?

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Definitions:

SEC

Stands for the Securities and Exchange Commission, a U.S. government agency responsible for regulating the securities markets and protecting investors.

1934 Securities Act

U.S. legislation aimed at regulating the secondary securities market, requiring disclosure of material information related to securities transactions and aimed at combating fraud and manipulation.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to unintended damage or harm.

Audit

A systematic review or assessment of financial accounts, records, or transactions to ensure accuracy, compliance with standards, and to verify reports.