In a residential section of Southern California, a realtor believes that 80% of one-bedroom apartments rent between
Question:
In a residential section of Southern California, a realtor believes that 80% of one-bedroom apartments rent between $1,950 and $2,450. What is the probability of selecting a random sample of 50 one-bedroom apartments and finding the proportion is less than 50%?
a. Test the conditions necessary to apply the central limit theorem. Are they satisfied? Why?
b. Find and interpret the probability in the exercise.
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Related Book For 
Statistical Techniques In Business And Economics
ISBN: 9781265779696
19th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen
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