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A bakery has an average daily expense of $1350. The standard deviation is $150. The owner takes a sample of 50 bills, what is the probability the mean of his sample will be between $1200 and $1500?
how do i solve this

  • Statistics Summary - ,

    Z = (mean1 - mean2)/standard error of the mean (SEm)

    SEm = SD/√n

    Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability between the Z scores.

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