Question

The mean cost of a five pound bag of shrimp is 4646 dollars with a standard deviation of 77 dollars. If a sample of 4949 bags of shrimp is randomly selected, what is the probability that the sample mean would differ from the true mean by more than 0.50.5 dollars? Round your answer to four decimal places.

          The mean cost of a five pound bag of shrimp is 4646 dollars with a standard deviation of 77 dollars.
If a sample of 4949  bags of shrimp is randomly selected, what is the probability that the sample mean would differ from the true mean by more than  0.50.5  dollars? Round your answer to four decimal places.

Added by Kathleen T.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert K S

07/30/2022

Step 1

Step 1: Calculate the margin of error using the formula: margin of error = z * (standard deviation / sqrt(sample size)) Given that the standard deviation is 77 dollars and the sample size is 49, the margin of error is: margin of error = z * (77 / sqrt(49)) margin Show more…

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The mean cost of a five pound bag of shrimp is 4646 dollars with a standard deviation of 77 dollars. If a sample of 4949 bags of shrimp is randomly selected, what is the probability that the sample mean would differ from the true mean by more than 0.50.5 dollars? Round your answer to four decimal places.