1. Math
2. Statistics And Probability
3. the average and standard deviation of the amount of gst...

Question: the average and standard deviation of the amount of gst...

Question details

The average and standard deviation of the amount of GST paid by all sole trader businesses in a twelve month period were $7.895 thousand and$1.744 thousand respectively. If a sample of 50 sole trader businesses was chosen, find the sample average value above which only 5% of sample averages would lie. Give your answer in dollars (to the nearest dollar). Use z table, not cas calculator.