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:

Desired Profit

The target profit a company aims to achieve within a specific period, often used in pricing and business strategy.

Invested Assets

Assets that are purchased or acquired for the purpose of generating income or profit for the business.

Markup Percentage

A percentage increase on the buying price of items intended to account for operational expenses and ensure earnings.

Selling and Administrative Costs

Expenses related to the selling of products or services and the general administrative activities of a business.