The probability that the sample mean would be less than 43.4 dollars is 0.9292.
<h3>What is a probability?</h3>
Probability is the occurence of likely events. It is the area of mathematics that deals with numerical estimates of the likelihood that an event will occur or that a statement is true.
From the information, the mean cost of a five pound bag of shrimp is 42 dollars with a variance of 49 and a sample of 54 bags of shrimp is randomly selected.
Therefore, the probability will be:
P(x < 43.4)
Using normal distribution
= P(z < 43.4 - Mean( / 7/✓54)
= P(z < 43.4 - 42( / 7/✓54)
= P(z < 1.4697)
= 0.9292
The probability is 0.9292.
Learn more about probability on:
brainly.com/question/24756209
#SPJ1
