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Given that the average person saves $130,000 and the standard deviation is $14,000: Identify the mean, standard deviation, x, s, n

What is the probability that a single person will save $135,000 or more?

What is the probability that a sample mean savings of 14 people will be more than
$135,000 per year and what is the value of the standard error of the mean?

Solution Preview

Mean, mu = 130000 and SD, sigma = 14000

(a) z = (x - mu)/sigma

z = (135000 - ...

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