Average Annual Revenue Suppose That the Average Annual Revenue of a Small

question 87

Short Answer

Average Annual Revenue
Suppose that the average annual revenue of a small business is $150,000 with a standard deviation of $40,000.Assume that the revenue distribution is normal. ​ ​
-{Average Annual Revenue Narrative} What is the probability that the average annual revenue of a random sample of 4 businesses is less than $120,000?

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Definitions:

Bits

The smallest units of data in computer processing, each of which can hold a value of either 0 or 1.

Sequential Function Chart

A graphical programming language used for programmable logic controllers (PLCs) to describe the sequence of operations in an industrial process.

Function Block

Rectangular block with inputs entering from the left and outputs exiting on the right.