Amarketing consultant observed 40 consecutive shoppers to estimate the average money spent by shoppers in a supermarket store. assume that the money spent by the population of shoppers follow a normal distribution with a standard deviation of $21.51. what is the probability that the average money spent by a sample of 40 shoppers is within $10 of the actual population mean. 0.1389

P (average within 10) = 0.9984

Step-by-step explanation:

Given:

Number of consecutive shoppers observed, n = 40

Standard deviation, σ = $21.51

Now,

Standard error (SE) =

or

Standard error (SE) =

or

Standard error (SE) = 3.40

also,

z =

on substituting the values, we have

z =

or

z = 2.94

Now, from the Table of Area Under Standard Noral Curve

for z = 2.94 ; area = 0.9984

we have P (average within 10) = 0.9984

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