Suppose you have the average price for a sample of Lucky Cha

Suppose you have the average price for a sample of Lucky Charms at 35 different stores in the valley. Suppose that the population standard deviation for the prices is 1.2. If the population mean is 4.4, what is the z value for a sample average of 4.9? Answer to two decimal places.

Solution

As

z = (x-u)*sqrt(n)/sigma

Then

z = (4.9-4.4)*sqrt(35)/1.2 = 2.465033243 [ANSWER]