Considering the Central Limit Theorem, we have that:
a) The probability cannot be calculated, as the underlying distribution is not normal and the sample size is less than 30.
b) The probability can be calculated, as the sample size is greater than 30.
<h3>What does the Central Limit Theorem state?</h3>It states that the sampling distribution of sample means of size n is approximately normal has standard deviation , as long as the underlying distribution is normal or the sample size is greater than 30.
In this problem, the underlying distribution is skewed right, that is, not normal, hence:
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Using an exponential function, it is found that f(5.5) = 19.8.
<h3>What is an exponential function?</h3>An exponential function is a function in which the growth rate is a percentage, modeled by:
In which:
f(3.5) = 25 means that:
f(8.5) = 14 means that:
Hence:
Hence, the function is given by:
Then, when x = 5.5:
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The mean is 6394530.35 and the median is = 3355572.5
The missing data is attached in the answer.
<h3>What is Mean ?</h3>Mean is the average value of the data points , it is determined by dividing the total sum of the data points to the number of data points.
Mean and Median is the measure of the central; tendency of the data.
Mean is given by
Sum of the observations/number of observations
= (741894 + 6931071....)/20
= 6394530.35
2) To find median
The data needs to be arranged in ascending order
Then the median is the middle number of the arranged data
Here the median is = 3355572.5
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