In: Statistics and Probability
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?
a. 0.2956
b. 0.8893
c. 0.1388
d. 0.8034