Question

In: Statistics and Probability

The average ticket price for a Spring Training baseball game is $30.21, with a standard deviation...

The average ticket price for a Spring Training baseball game is $30.21, with a standard deviation of $6.15. In a random sample of 40 Spring Training tickets, find the probability that the mean ticket price exceeds $33. (Round your answer to three decimal places)

Expert Solution

Solution :

Given that ,

mean = = $30.21

standard deviation = = $6.15

n = 40

= 30.21

= / n =6.15 / 40 = 0.9724

P( >33 ) = 1 - P( 33< )

= 1 - P[( - ) / < (33 -30.21) / 0.9724]

= 1 - P(z <2.87 )

Using z table

= 1 - 0.9979

= 0.0021

probability= 0.002

orchestra answered 2 years ago

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