A report announced that the median sales price of new houses sold one year was $231,000, and the mean sales price was $272,800. Assume that the standard deviation of the prices is $100,000. 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 will be approximately uniform. O B. The sampling distribution is skewed to the right, but less skewed to the right than the population. OC. The sampling distribution will depend on the specific sample and will not have a constant shape. O D. The sampling distribution will be approximately normal. (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 will depend on the specific sample and will not have a constant shape. O B. The sampling distribution will be approximately normal. OC. The sampling distribution will be approximately uniform.

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A:

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.