Assignment:
The U.S. Bureau of Labor Statistics (https://www.bls.gov) released hourly wage figures for western countries in 2000 in the manufacturing sector. The hourly wage was $24.01 in Germany, $22.00 in Japan, and $19.86 in the United States.
- Suppose 40 manufacturing workers are selected randomly from across Germany and asked what their hourly wage is. What is the probability that the sample average will be between $23.50 and $24.50?
- Suppose 35 manufacturing workers selected randomly from across Japan. What is the probability that the sample average will exceed $23?
Assume that in all three countries, the standard deviation of hourly labor rates is $3.