Question
In: Statistics and Probability
A report announced that the median sales price of new houses sold one year was $221,000,...
A report announced that the median sales price of new houses sold one year was $221,000, and the mean sales price was $270,400. Assume that the standard deviation of the prices is $100,000.
(d) If you select a random sample of n=100, what is the probability that the sample mean will be between $275,000 and $285,000?
The probability that the sample mean will be be between $275,000 and $285,000 is
Solutions
Expert Solution
µ = 270400
sd = 100000
n = 100
= P(0.46 < Z < 1.46)
= P(Z < 1.46) - P(Z < 0.46)
= 0.9279 - 0.6772
= 0.2507
orchestra answered 2 years agoRelated Solutions
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A report announced that the mean sales price of all new houses
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a. 0.2956
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A report announced that the mean sales price of all new houses sold one year was...
A report announced that the mean sales price of all new houses
sold one year was $272,000. Assume that the population standard
deviation of the prices is $100,000. If you select a random sample
of 100 new houses, what is the probability that the sample mean
sales price will be between $250,000 and $285,000?
Select one:
a. 0.8034
b. 0.1388
c. 0.2956
d. 0.8893
A report announced that the mean sales price of all new houses sold one year was...
A report announced that the mean sales price of all new houses
sold one year was $272,000. Assume that the population standard
deviation of the prices is $100,000. If you select a random sample
of 100 new houses, what is the probability that the sample mean
sales price will be between $250,000 and $285,000?
Select one:
a. 0.1388
b. 0.8034
c. 0.2956
d. 0.8893
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(https://www.census.gov/construction
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deviation of the prices is $90,000.
a. If you select a random sample of n = 100, what is the
probability that the sample mean will be less than
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The U.S. Census Bureau announced that the mean sale price of new houses sold in 2011...
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Years
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175.2
2002
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2003
189.5
2004
222.3
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236.3
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257.0
2007
242.5
2008
246.4
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Square Footage
84,000
1,670
79,000
1,339
91,500
1,712
120,000
1,840
127,500
2,300
132,500
2,234
145,000
2,311
164,000
2,377
155,000
2,736
168,000
2,500
172,500
2,500
174,000
2,479
175,000
2,400
177,500
3,124
184,000
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195,500
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195,000
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Graph the data to see whether a linear equation might describe
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