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(Solved): In The EAI Sampling Problem, The Population Mean Is $51,100 And The Population Standard Deviation Is...


In the EAI sampling problem, the population mean is $51,100 and the population standard deviation is $4,000. When the sample size is n = 20, there is a 0.4977 probability of obtaining a sample mean within +/- $600 of the population mean. Use z-table.

  1. What is the probability that the sample mean is within $600 of the population mean if a sample of size 40 is used (to 4 decimals)?

  2. What is the probability that the sample mean is within $600 of the population mean if a sample of size 80 is used (to 4 decimals)?


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Solution: We are given: a. We have to find: Using the z-score formula, we have:
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