Sea Fair Fashions relies on its sales force of 220 to do an initial screening of all new fashions. The company is currently bringing out a new line of swimwear and has invited 40 salepeople to its Orlando home office. As issue of constant concern to the SeaFair sales office is the volume of orders generated by each sales person. Last year, the overall company average was $317,330 with a standard deviation of $45, 285 (Hint: the finite population correction factor, is required).
a. Determine the probability the sample of 40 will have a sales average less than $400,000.