SCENARIO 7-7 A Recent Survey Revealed That American's Christmas Spending Averaged $830

Short Answer

SCENARIO 7-7
A recent survey revealed that American's Christmas spending averaged $830. Use this as the
population mean American's Christmas spending. Suppose American's Christmas spending is
normally distributed with a standard deviation of $220. Random sample of size 100 are selected from
the population of American consumers.
-Referring to Scenario 7-7, what is the probability that the sample mean spending is no more
than $840?