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14 March, 00:43

What is the probability that a random sample of 50 individuals shows an average annual income of at least $50,000? Select the parameters of the distribution to calculate the probability:

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  1. 14 March, 01:01
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    E (x), σx

    Step-by-step explanation:

    We have to x be their average annual income we need to find p (x = > 50000)

    To find this probability we need E (x), σx

    For we find p (x = > 50000) we find the z value for 50000, ie the # of standart deviations that 50000 is away form E (x)

    z = (x - E (x) / σx)

    now p (x = > 50000) = p (z = > (x - E (x) / σx)

    hence we can say that, to find p (x = > 50000) we need the parameters E (x), σx
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