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!!!
z tables will help you out a lot
look in your textbook about how to find z values and your probability calculations will be a piece of cake
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