In: Math
Suppose that the distribution for total amounts spent by students vacationing for a week in Florida is normally distributed with a mean of 650 and a standard deviation of 120. Suppose you take a SRS of 15 students from this distribution. What is the probability that an SRS of 15 students will spend an average of between 600and700? Round to five decimal places.
Solution:
Given that ,
= 650
= 120
A sample of size n = 15 is taken from this population.
Let be the mean of sample.
The sampling distribution of the is approximately normal with
Mean = = 650
SD = = 120/15 = 30.9838667697
Now ,
P(600 < < 700)
= P( < 700) - P( < 600)
= P[( - )/ < (700 - 650)/30.9838667697] - P[( - )/ < (600 - 650)/30.9838667697]
= P[Z < 1.61374] - P[Z < -1.61374]
= 0.94671 - 0.05329 (use z table)
= 0.89342