The U.S. Census Bureau announced that the median sales price of new houses sold in 2009 was

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The U.S. Census Bureau announced that the median sales price of new houses sold in 2009 was $215,600, and the mean sales price was $270,100 (www.census.gov/ newhomesales, March 30, 2010). Assume that the standard deviation of the prices is $90,000.
a. If you select samples of n = 2, describe the shape of the sampling distribution of .
b. If you select samples of n = 100, describe the shape of the sampling distribution of .
c. If you select a random sample of n = 100, what is the probability that the sample mean will be less than $300,000?
d. If you select a random sample of n = 100, what is the probability that the sample mean will be between $275,000 and $290,000? 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...
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Basic Business Statistics Concepts And Applications

ISBN: 9780132168380

12th Edition

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

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