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Given a mean price of a residential real estate sales of KD 527,000 and a standard deviation of KD 3,270, what is the probability of having a sale above KD 550,000? Having a sale below KD 522,500?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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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.

Question

Given a mean price of a residential real estate
sales of KD 527,000 and a standard deviation
of KD 3,270, what is the probability of having
a sale above KD 550,000? Having a sale
below KD 522,500?

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