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In: Statistics and Probability

A charity receives 2025 contributions. Contributions are assumed to be independent and identically distributed with mean...

A charity receives 2025 contributions. Contributions are assumed to be independent and identically distributed with mean 3125 and standard deviation 250. Calculate the probability that the total amount of contributions is greater than $6,320,000.  

1. What do I know?  

2. What do I want to find out?

3. What do we expect the answer to be?

4. How do I go from what I know to what I want to find?

5. Is the answer consistent with what I expected?  

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Expert Solution

orchestra answered 2 years ago
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