Probability distribution of a sample mean
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A wholesaler assures retailer replacement times for TVs normally dist. with mean of 8.2 and s.d. of 1.1. The retailer finds that a random sample of 20 sets from the wholesaler have mean replacement time of 7.6 years. Find P of getting a sample of 20 TVs with a mean replacement time of 7.6 years or less.
Is wholesaler trustworthy?
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Solution Summary
This solutions finds the probability of an event related to a sample mean by applying the central limit theorem.
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Please see the attached Word document for calculations and explanation of this exercise.
Solution:
First, organize the information given in the problem.
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