The following histogram shows the distribution of house values in a certain city. The mean of the distribution is $403,000 and the standard deviation is $278,000. (a) Suppose one house from the city will be selected at random. Use the histogram to estimate the probability that the selected house is valued at less than $500,000. Show your work. (b) Suppose a random sample of 40 houses are selected from the city. Estimate the probability that the mean value of the 40 houses is less than $500,000. Show your work 0.40- 0.35- 0.30- 0.25- 0.20- 0.15- 0.10- 0.05- 0- 500 1,000 1,500 2,000 2,500 Value (thousands of dollars) Relative Frequency
The following histogram shows the distribution of house values in a certain city. The mean of the distribution is $403,000 and the standard deviation is $278,000. (a) Suppose one house from the city will be selected at random. Use the histogram to estimate the probability that the selected house is valued at less than $500,000. Show your work. (b) Suppose a random sample of 40 houses are selected from the city. Estimate the probability that the mean value of the 40 houses is less than $500,000. Show your work 0.40- 0.35- 0.30- 0.25- 0.20- 0.15- 0.10- 0.05- 0- 500 1,000 1,500 2,000 2,500 Value (thousands of dollars) Relative Frequency
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Would you please show me how to solve both problems, but specifically with subpart b, how to solve it using a z score as well as how to solve it using normal cdf on a calculator (if applicable)? Thank you!
![The following histogram shows the distribution of house values in a certain city. The
mean of the distribution is $403,000 and the standard deviation is $278,000.
(a) Suppose one house from the city will be selected at random. Use the histogram to
estimate the probability that the selected house is valued at less than $500,000. Show
your work.
(b) Suppose a random sample of 40 houses are selected from the city. Estimate the
probability that the mean value of the 40 houses is less than $500,000. Show your work
0.40-
0.35-
0.30-
0.25-
0.20-
0.15-
0.10-
0.05-
0-
500
1,000
1,500
2,000
2,500
Value (thousands of dollars)
Relative Frequency](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3230cc08-d519-47e3-b85c-a22751a4e238%2F63a98450-c69c-4adb-ad8b-3a1105b90163%2Fmkg1sqm_processed.png&w=3840&q=75)
Transcribed Image Text:The following histogram shows the distribution of house values in a certain city. The
mean of the distribution is $403,000 and the standard deviation is $278,000.
(a) Suppose one house from the city will be selected at random. Use the histogram to
estimate the probability that the selected house is valued at less than $500,000. Show
your work.
(b) Suppose a random sample of 40 houses are selected from the city. Estimate the
probability that the mean value of the 40 houses is less than $500,000. Show your work
0.40-
0.35-
0.30-
0.25-
0.20-
0.15-
0.10-
0.05-
0-
500
1,000
1,500
2,000
2,500
Value (thousands of dollars)
Relative Frequency
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