In the year 2022, monthly mortgage payments for single-family homes in a southern state in the United States were normally distributed with a mean of $1750 and standard deviation of $360. a. Suppose a random sample of 25 mortgage payments is selected. What is the probability that the mean of the sample is greater than $2000? b. Suppose a random sample of 50 mortgage payments is selected. What is the probability that the mean of the sample is less than $1820?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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In the year 2022, monthly mortgage payments for single-family homes in a southern state in the United States were
normally distributed with a mean of $1750 and standard deviation of $360. a. Suppose a random sample of 25
mortgage payments is selected. What is the probability that the mean of the sample is greater than $2000? b. Suppose
a random sample of 50 mortgage payments is selected. What is the probability that the mean of the sample is less than
$1820?
Transcribed Image Text:In the year 2022, monthly mortgage payments for single-family homes in a southern state in the United States were normally distributed with a mean of $1750 and standard deviation of $360. a. Suppose a random sample of 25 mortgage payments is selected. What is the probability that the mean of the sample is greater than $2000? b. Suppose a random sample of 50 mortgage payments is selected. What is the probability that the mean of the sample is less than $1820?
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