A Population Has a Mean of 80 and a Standard

question 105

Multiple Choice

A population has a mean of 80 and a standard deviation of 7. A sample of 49 observations will be taken. The probability that the mean from that sample will be larger than 82 is

• A)0.5228
• B)0.9772
• C)0.4772
• D)0.0228

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Definitions:

Price

The financial cost associated with acquiring a good, service, or asset.

Income

Funds obtained regularly from work performed or investments made.

Budget Line

The budget line represents the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.

Slope

A measure of the steepness or inclination of a line or curve, indicating the ratio of the vertical change to the horizontal change between two points on the line.