In: Statistics and Probability
The average ticket price for a Spring Training baseball game is $29.80, with a standard deviation of $7.35. In a random sample of 40 Spring Training tickets, find the probability that the mean ticket price exceeds $32. (Round your answer to three decimal places)
Solution :
Given that,
mean = = 29.80
standard deviation = = 7.35
n=40
= =29.80
= / n = 7.35/ 40 = 1.16
P( >32 ) = 1 - P( <32 )
= 1 - P[( - ) / < (32-29.80) /1.16 ]
= 1 - P(z < 1.90)
Using z table
= 1 - 0.9713
= 0.0287
probability= 0.0287