Why are your answers to the previous two questions different

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Reference no: EM131988204

Problem

Suppose that the average annual revenue of a small business is $140,000 with a standard deviation of $30,000. Assume that the revenue distribution is normal.

What is the probability that one business selected at random makes less than $120,000?

What is the probability that the average annual revenue of a random sample of 4 businesses is less than $120,000?

Why are your answers to the previous two questions different?

Reference no: EM131988204

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