Question

In: Statistics and Probability

The average ticket price for a Spring Training baseball game is $31.46, with a standard deviation...

The average ticket price for a Spring Training baseball game is $31.46, with a standard deviation of $8.46. In a random sample of 40 Spring Training tickets, find the probability that the mean ticket price exceeds $34. (Round your answer to three decimal places)

Expert Solution

Solution :

Given that,

mean = = 100

standard deviation = = 8.46

n = 40

= 31.46

= / $\sqrt$ n = 8.46 $\sqrt$ 40 = 1.3376

P ( > 34)

= 1 - P ( < 34 )

= 1 - P ( - / ) < ( 34 - 31.46 / 1.3376)

= 1 - P ( z < 2.54 / 1.3376 )

= 1 - P ( z < 1.90 )

Using z table

= 1 - 0.9713

=0.0287

Probability = 0.0287

orchestra answered 1 year ago

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