The U. S. Census Bureau announced that the median sales price of new houses sold in 2013

Question:

The U. S. Census Bureau announced that the median sales price of new houses sold in 2013 was $ 265,900, and the mean sales price was $ 322,100 (www.census.gov/newhomesales, March 1, 2014). Assume that the standard deviation of the prices is $ 90,000.

a. If you select samples of n = 4, describe the shape of the sampling of X-BAR-bar.

b. If you select samples of n = 100, describe the shape of the sampling of X-BAR-bar.

c. If you select a random sample of n = 100, what is the probability that the sample mean will be less than $ 346,000?

d. If you select a random sample of n = 100, what is the probability that the sample mean will be between 326,000 and 341,000?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...