Having a little Statistics homework trouble.
"Let X denote the outstanding balances of customers of a firm. From past experiences X is well approximated by a normal distribution with mean 45 and variance 100. If an auditor takes a random sample of 36 accounts what is the probability that the mean balance will be less than 45?"
A step-by-step explanation would be best! Thank you in advance!
"Let X denote the outstanding balances of customers of a firm. From past experiences X is well approximated by a normal distribution with mean 45 and variance 100. If an auditor takes a random sample of 36 accounts what is the probability that the mean balance will be less than 45?"
A step-by-step explanation would be best! Thank you in advance!
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mean of the sample = mean of the population
the q asks for P[< mean]
w/o the need for any calculation, we can say
ans = 0.5
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the q asks for P[< mean]
w/o the need for any calculation, we can say
ans = 0.5
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