The average sales price of a single-family house in US is $290,600. You randomly select 12 single-family houses. What is the probability that the mean sales price is more than $265,000? Assume that the sales prices are normally distributed with a standard deviation of $36,000. a) b) Use CLT to find the μx and ox? Find the z-score that corresponds t- x =$265,000
The average sales price of a single-family house in US is $290,600. You randomly select 12 single-family houses. What is the probability that the mean sales price is more than $265,000? Assume that the sales prices are normally distributed with a standard deviation of $36,000. a) b) Use CLT to find the μx and ox? Find the z-score that corresponds t- x =$265,000
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Please answer part a and b: Thank you
![The average sales price of a single-family house in US is $290,600. You
randomly select 12 single-family houses. What is the probability that the mean
sales price is more than $265,000? Assume that the sales prices are normally
distributed with a standard deviation of $36,000.
a)
b)
c)
d)
Use CLT to find the ux and ox?
Find the z-score that corresponds t- x =$265,000
Find the cumulative area that corresponds to the Z-score and calculate the probability.
Interpret the results.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F59aee2bb-f991-4260-9a22-993f209d765c%2F99cdf07f-ddfe-445f-bb1a-ee3411934c07%2F098lm6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The average sales price of a single-family house in US is $290,600. You
randomly select 12 single-family houses. What is the probability that the mean
sales price is more than $265,000? Assume that the sales prices are normally
distributed with a standard deviation of $36,000.
a)
b)
c)
d)
Use CLT to find the ux and ox?
Find the z-score that corresponds t- x =$265,000
Find the cumulative area that corresponds to the Z-score and calculate the probability.
Interpret the results.
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