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The mean selling price of senior condominiums in Green Valley

The mean selling price of senior condominiums in Green Valley over a year was $215,000. The population standard deviation was $25,000. A random sample of 100 new unit sales was obtained.

a. What is the probability that the sample mean selling price was more than $210,000?

b. What is the probability that the sample mean selling price was between $213,000 and $217,000?

c. What is the probability that the sample mean selling price was between $214,000 and $216,000?

d. Without doing the calculations, state in which of the following ranges the sample mean selling price is most likely to lie:

$213,000 to $215,000; $214,000 to $216,000;

$215,000 to $217,000; $216,000 to $218,000

e. Suppose that, after you had done these calculations, a friend asserted that the population distribution of selling prices of senior condominiums in Green Valley was almost certainly not normal. How would you respond?

a. What is the probability that the sample mean selling price was more than $210,000?

b. What is the probability that the sample mean selling price was between $213,000 and $217,000?

c. What is the probability that the sample mean selling price was between $214,000 and $216,000?

d. Without doing the calculations, state in which of the following ranges the sample mean selling price is most likely to lie:

$213,000 to $215,000; $214,000 to $216,000;

$215,000 to $217,000; $216,000 to $218,000

e. Suppose that, after you had done these calculations, a friend asserted that the population distribution of selling prices of senior condominiums in Green Valley was almost certainly not normal. How would you respond?

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