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Statistics
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Statistics for Management and Economics
Quiz 9: Sampling Distributions
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Question 61
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 one business selected at random makes less than $120,000?
Question 62
Short Answer
Heights of Men The heights of men in the USA are normally distributed with a mean of 68 inches and a standard deviation of 4 inches. -{Heights of Men Narrative} What is the probability that the mean height of a random sample of 36 men is greater than 70 inches?
Question 63
Essay
Retirees A sample of 50 retirees is drawn at random from a normal population whose mean age and standard deviation are 75 and 6 years,respectively. -{Retirees Narrative} What is the probability that the mean age exceeds 73 years?