
Originally Posted by
101stats101
Can someone help me out with this,
Based on a population that is normally distributed, with a population mean of $470 and a population standard deviation of $59....
1. If we randomly select ONE (1) member of this population what is the probablity that the value will be less than $450?
2. If we randomly select a sample of FOUR (4) members of this population what is the probablity that the sample mean will be less than $450?
3. If we randomly select a sample of FIFTY (50) members of this population what is the probablity that the sample mean will be less than $450?
Thanks!!!