Question: SeaFair Fashions relies on its salesforce 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 salespeople to its Orlando home office. An issue of constant concern to the SeaFair sales office is the volume of orders generated by each salesperson. Last year, the overall company average was $417,330 with a standard deviation of $45,285. (Hint: The finite population correction factor, Equation 7.5, is required.)

1. Determine the probability the sample of 40 will have a sales average less than $400,000.
2. What shape do you think the distribution of all possible sample means of 40 will have? Discuss
3. Determine the value of the standard deviation of the distribution of the sample mean of all possible samples of size 40 .

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