Question: I need help with this question. A report announced that the median sales price of new houses sold one year was $231,000, and the mean
I need help with this question.

A report announced that the median sales price of new houses sold one year was $231,000, and the mean sales price was $272,200. Assume that the standard deviation of the prices is $90,000. Complete parts (a) through (d) below. (a) If you select samples of n - 2, describe the shape of the sampling distribution of X. Choose the correct answer below. O A. The sampling distribution is skewed to the right, but less skewed to the right than the population. O B. The sampling distribution will be approximately uniform. O C. The sampling distribution will be approximately normal. O D. The sampling distribution will depend on the specific sample and will not have a constant shape (b) If you select samples of n - 100, describe the shape of the sampling distribution of X. Choose the correct answer below. O A. The sampling distribution is skewed to the right, but lessed skew to the right than the population. O B. The sampling distribution will be approximately uniform. O C. The sampling distribution will be approximately normal. O D. The sampling distribution will depend on the specific sample and will not have a constant shape (c) If you select a random sample of n = 100, what is the probability that the sample mean will be less than $300,000? The probability that the sample mean will be less than $300,000 is (Round to four decimal places as needed.) (d) If you select a random sample of n = 100, what is the probability that the sample mean will be between $280,000 and $295,000? The probability that the sample mean will be be between $280.0DO and $295,000 is (Round to four decimal places as needed.) Click to select your answer(s).
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
