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


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  • CreatedJuly 16, 2015
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