Continuing on with the previous question. The Progressive Conservatives claim the average of 690 thousands per year as the expected value for the earnings among Ontario super-rich) is an exaggeration, and have bet the NDP leader that the average annual earnings (per person) obtained from a sample of 1500 super-rich will be less than 689 thousands per year. Assume that the NDP assumptions (outlined in previous question) were correct.
(a) (2 points) Will the NDP win this bet (yes/no, and why)?
(b) (3 points) What is the probability that the NDP will win the bet?
(c) (3 points) Would your answer to the previous question change if the sample size were halved? How so (you should recalculate if you think it changes).