Heights of Fences

question 17

Short Answer

Heights of Fences
Heights of fences are normally distributed with a mean of 52 inches and a standard deviation of 4 inches. ​ ​
-{Heights of Fence Narrative} Find the probability that the mean height of 4 randomly selected fences is under 54 inches.

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Definitions:

Annual Variations

Fluctuations in economic indicators or values that occur on a yearly basis due to various factors such as seasonal patterns or cyclical trends.

Disposable Income

Households’ financial capacity for savings and expenditure after income tax obligations are met.

Consumption Spending

The total value of all goods and services consumed by households and individuals.

Household

A single person or a group of people living together in a single living accommodation, sharing meals or living space, and may operate as a single economic unit.