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The selling price of new homes in a city over a year was normally distributed with a mean of $115,000 and a standard deviation of $25,000. A random sample of 16 new home sales from this city was taken. Describe the sampling distribution of the sample mean (indicate center, spread, shape). mean = $115,000, standard deviation = $6,250, and shape = exactly normal mean = $115,000, standard deviation = $2,500, and shape = exactly normal mean = $115,000, standard deviation = $25,000, and shape = exactly normal mean = $115,000, standard deviation = $6,250, and shape=unknown O mean = $115,000, standard deviation = $2,500, and shape = approximately normal by the Central Limit Theorem

The selling price of new homes in a city over a year was normally distributed with a mean of $115,000 and a standard deviation of $25,000. A random sample of 16 new home sales from this city was taken. Describe the sampling distribution of the sample mean (indicate center, spread, shape). mean = $115,000, standard deviation = $6,250, and shape = exactly normal mean = $115,000, standard deviation = $2,500, and shape = exactly normal mean = $115,000, standard deviation = $25,000, and shape = exactly normal mean = $115,000, standard deviation = $6,250, and shape=unknown O mean = $115,000, standard deviation = $2,500, and shape = approximately normal by the Central Limit Theorem

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 22PFA
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**Sampling Distribution of the Sample Mean in Home Prices** The selling price of new homes in a city over a year was normally distributed with a mean of $115,000 and a standard deviation of $25,000. A random sample of 16 new home sales from this city was taken. Describe the sampling distribution of the sample mean (indicate center, spread, shape). Options: 1. Mean = $115,000, standard deviation = $6,250, and shape = exactly normal 2. Mean = $115,000, standard deviation = $2,500, and shape = exactly normal 3. Mean = $115,000, standard deviation = $25,000, and shape = exactly normal 4. Mean = $115,000, standard deviation = $6,250, and shape = unknown 5. Mean = $115,000, standard deviation = $2,500, and shape = approximately normal by the Central Limit Theorem
Transcribed Image Text:**Sampling Distribution of the Sample Mean in Home Prices** The selling price of new homes in a city over a year was normally distributed with a mean of $115,000 and a standard deviation of $25,000. A random sample of 16 new home sales from this city was taken. Describe the sampling distribution of the sample mean (indicate center, spread, shape). Options: 1. Mean = $115,000, standard deviation = $6,250, and shape = exactly normal 2. Mean = $115,000, standard deviation = $2,500, and shape = exactly normal 3. Mean = $115,000, standard deviation = $25,000, and shape = exactly normal 4. Mean = $115,000, standard deviation = $6,250, and shape = unknown 5. Mean = $115,000, standard deviation = $2,500, and shape = approximately normal by the Central Limit Theorem
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