Question
In: Statistics and Probability
Suppose that, according to a recent census, the income per capita measured in U.S. dollars was...
Suppose that, according to a recent census, the income per capita measured in U.S. dollars was $42 comma 793 in country A and $46 comma 210 in country B. Assume that income per capita is Normally distributed with a standard deviation equal to 29% of the mean for each country. A random sample of eight people in country A and eight people in country B is selected.
a) What is the probability that the mean income of the sample from country A is above $46 comma 210?
b) What is the probability that the mean income of the sample from country B is above $42 comma 793?
c) What would be the effect of not assuming that the income per capita is Normally distributed?
Solutions
orchestra answered 1 year agoRelated Solutions
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ARE RAPID ECONOMIC GROWTH AS MEASURED BY GNI OR PER CAPITA INCOME CONFLICTS WITH A MORE...
ARE RAPID ECONOMIC GROWTH AS MEASURED BY GNI OR PER CAPITA
INCOME CONFLICTS WITH A MORE EQUAL DISTRIBUTION OF PERSONAL INCOME
OBJECTIVES?
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