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    sampling distribution

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    Recent studies have indicated that the typical New York City teenager spends $500 per year on attending movies. The distribution of amounts spent is normal, with a population standard deviation of $100. We select a random sample of 25 teenagers, and find that the mean amount they spent in the last year was $535. What is the likelihood of a finding a mean for a sample of 25 that is $535 or larger from the specified population?

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    Solution Summary

    Step by step method for computing based on the sampling distribution is given in the answer.