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Information from the American institute of insurance indicates the mean amount of life insurance per household in the United States is $110,000 with a standard deviation of $40,000. Assume the population distribution is normal. A random sample of 100 households is taken.
(a) What is the probability that sample mean will be more than $120,00?
(b) What is the probability that sample mean will be between $100,000 and $120,000?
Round your answer to 4 decimal places. ( use part 2 sheet to answer this question)

Solved by F. Y. in 19 mins

The file name sheet part two is kept blank, use part 2 sheet to answer this question. Put a box around your answers. Round your answer to 4 decimal places.
Information from the American institute of insurance indicates the mean amount of life insurance per household in the unites states is $110,00 with a standard deviation of $40,000. Assume the population distribution is normal. A random sample of 100 households is taken.
A. what is the probability that sample mean will be more than $120,000?
B. what is the probability that sample mean will be between $100,00 and $120,000?

Solved by C. F. in 29 mins

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Hi,
I have a list of numbers in one column and an condition (0/1) in another column
I want to check the standard deviation only if the condition is 1
I'm using excel 2016 and I did not find an stdevif function similar to averageif but could anyone recommend a clever way in solving my problem?
I've googled and lots of answers are using the CSE equation {=STDEV(IF(B2:B100="Y",A2:A100))}
I did enter the equation using ctrl+shift+enter but what I got is an error: #DIV/0!
...Also, what should I do if I want to compute the SD under more than one columns of conditions (in my file, condition 1 & condition2)?
Thanks.

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Hi! I'm making a diagram for my thesis. I would like to have a different standard deviation per bar, but I don't know how to do that. I figured out how to change standard deviation for all bars, but not how to change each bar seperately.

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