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Answer to Question #85245 in Statistics and Probability for Patience Lamisi Fiakumah

Question #85245
Suppose the annual savings (in millions of euros) of a specific household is a random variable, which follows the normal distribution with mean μ=5 and standard deviation σ=1. If we take a random sample of 16 households from the population, what is the probability the sampling mean to be:

more than 5.5 million euros?
between 4.9 and 5.1 million euros?
1
Expert's answer
2019-02-19T09:30:08-0500
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