Question

The mean cost of a 5 pound bag of shrimp is $50 with the standard deviation of six dollars. If a sample of 40 bags of shrimp is randomly selected what is the probability that the sample me will be less than $51.3 round your answer to four decimal places

Answer 1

SOLUTION

We will use the formula

$\begin{gathered} Z=\frac{x-\mu}{\frac{\sigma}{\sqrt{n}}} \\ where\text{ } \\ x=51.3,\mu=50,\sigma=6,n=40 \end{gathered}$

Applying we have

$\begin{gathered} Z=\frac{51.3-50}{\frac{6}{\sqrt{40}}} \\ Z=\frac{1.3}{\frac{6}{\sqrt{40}}} \\ Z=1.37032 \end{gathered}$

Now using a Zscore calculator for 1.370320, we have

P(xHence the answer is 0.9147