Question

At a financial services company, the mean percent allocation for bonds in a retirement portfolio is 26.9 percent with a population standard deviation of 3.6 percent. A random sample of 35 retirement plan participants was taken and the probability that the mean bond percent for the sample will be at least 28 percent was determined. Was the probability a Left-tail, Right -tail or Interval Probability

Answer 1

The probability of the mean bond percent for the sample being at least 28 percent is a right-tail probability.

Step-by-step explanation:

To determine whether the probability of the mean bond percent for the sample being at least 28 percent is a left-tail, right-tail, or interval probability, we need to compare the sample mean to the population mean and standard deviation. In this case, we are interested in the probability that the sample mean is greater than or equal to 28 percent.

Since we are looking for a probability of a sample mean being greater than a specific value, this is a right-tail probability.