Barron’s reported that the average number of weeks an indivi…
Barron’s reported that the average number of weeks an individual is unemployed is 17.5 weeks (Barron’s, February 18, 2008). Assume that for the population of all unemployed individuals, the population mean length of unemployment is 17.5 weeks and that the population standard deviation is 4 weeks. Suppose you would like to select a random sample of 50 unemployed individuals for a follow-up study.What is the probability that a simple random sample of 50 unemployed individuals will provide a sample mean within 1 week of the population mean? Find the probability in Excel based on the normal standard distribution. Show your work step by step. Submit your Excel file. Please ensure that your Excel file is closed before uploading it—otherwise, you may encounter an error.
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