5.) The IRS wants to determine the mean amount of money that married couples contribute to charity. Assume that the standard deviation of contribution is $360. What is the probability that in a random sample of 100 married couples, the sample mean contribution is within $10 of the population mean?
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- Population standard deviation (σ) = $360 - Sample size (n) = 100 married couples - We need to find: P(|x̄ - μ| < 10), which is the probability that the sample mean contribution (x̄) is within $10 of the population mean (μ). Show more…
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