The values of investment properties in Brisbane are normally distributed with mean $360 000 and standard deviation

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The values of investment properties in Brisbane are normally distributed with mean $360 000 and standard deviation $60 000. An investment property is randomly selected.

(a) What is the probability that the property is worth less than $300 000?

(b) What is the probability that the property is worth more than half a million dollars?

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Business Analytics And Statistics

ISBN: 9780730363330

1st Edition

Authors: Ken Black, John Asafu Adjaye, Paul Burke, Nelson Perera, Carl Sherwood, Saleh A. Wasimi

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Question Posted: Jan 27, 2020 01:37 PM

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The values of investment properties in Brisbane are normally distributed with mean $360 000 and standard deviation

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