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    Probability & Statistics

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    Wages of workers in a company have an average of $38,000 and a standard deviation of $2,500. They took in the company a sample of 60 workers' wages.

    a) Within which limits you would expect to find that the sample mean falls to a 95?

    b) Determine the probability of observing a sample mean more than $38,600.

    c) What would you think if you look at a sample mean of $36,500? Explain

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    Solution Preview

    mu = 38000, sigma = 2500, n = 60

    (a) For 95% of the values to be included, z = +_1.96

    x-bar must fall between [mu - z(sigma/sqrt n), ...

    Solution Summary

    This solution clearly displays all the steps to solve the given statistics and probability problems.