Assume that the standard deviation of monthly rents paid by students in a particular town is $40. A random sample of 100 students was taken to estimate the mean monthly rent paid by the whole student population. What is the probablility that the sample mean exceeds the population mean by more than $5?
What is the probability that the sample mean is more than $4 below the population mean?
What is the probability that the sample mean differs from the population mean by more than $3?
Thanks, ben e. I'm so close to getting it. I just have one question. How did you get from P(sample mean > mean +5) to P(z>5/4)?
What is the probability that the sample mean is more than $4 below the population mean?
What is the probability that the sample mean differs from the population mean by more than $3?
Thanks, ben e. I'm so close to getting it. I just have one question. How did you get from P(sample mean > mean +5) to P(z>5/4)?