A town has 500 real estate agents. The mean value of the properties sold in a year by these agents is $500,000, and the standard deviation is $250,000. A random sample of 100 agents is selected, and the value of the properties they sold in a year is recorded. a. What is the standard error of the sample mean? b. What is the probability that the sample mean exceeds $513,000? c. What is the probability that the sample mean exceeds $489,000? d. What is the probability that the sample mean is between $483,000 and $505,000? Click on the icon to view the standard normal table. a. The standard error of the sample mean is| (Round to the nearest integer as needed.) b. The probability that the sample mean exceeds $513,000 is (Round to four decimal places as needed.) c. The probability that the sample mean exceeds $489,000 is (Round to four decimal places as needed

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Question
4
A town has 500 real estate agents. The mean value of the properties sold in a year by these agents is $500,000, and the standard deviation is $250,000. A random sample of 100 agents is selected, and the value of the properties they sold in a
year is recorded.
a. What is the standard error of the sample mean?
b. What is the probability that the sample mean exceeds $513,000?
c. What is the probability that the sample mean exceeds $489,000?
d. What is the probability that the sample mean is between $483,000 and $505,000?
Click on the icon to view the standard normal table
a. The standard error of the sample mean is|
(Round to the nearest integer as needed.)
b. The probability that the sample mean exceeds $513,000 is.
(Round to four decimal places as needed.)
c. The probability that the sample mean exceeds $489,000 is .
(Round to four decimal places as needed.)
d. The probability that the sample mean is between $483,000 and $505,000 is-
(Round to four decimal places as needed.)
Transcribed Image Text:A town has 500 real estate agents. The mean value of the properties sold in a year by these agents is $500,000, and the standard deviation is $250,000. A random sample of 100 agents is selected, and the value of the properties they sold in a year is recorded. a. What is the standard error of the sample mean? b. What is the probability that the sample mean exceeds $513,000? c. What is the probability that the sample mean exceeds $489,000? d. What is the probability that the sample mean is between $483,000 and $505,000? Click on the icon to view the standard normal table a. The standard error of the sample mean is| (Round to the nearest integer as needed.) b. The probability that the sample mean exceeds $513,000 is. (Round to four decimal places as needed.) c. The probability that the sample mean exceeds $489,000 is . (Round to four decimal places as needed.) d. The probability that the sample mean is between $483,000 and $505,000 is- (Round to four decimal places as needed.)
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