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

We will use the formula

`\begin{gathered} Z=(x-\mu)/((\sigma)/(√(n))) \\ where\text{ } \\ x=51.3,\mu=50,\sigma=6,n=40 \end{gathered}`

Applying we have

`\begin{gathered} Z=(51.3-50)/((6)/(√(40))) \\ Z=(1.3)/((6)/(√(40))) \\ Z=1.37032 \end{gathered}`

Now using a Zscore calculator for 1.370320, we have

P(xHence the answer is 0.9147