use values in Martin, TN are known to have a distribution that is skewed to the right instead of being normally distributed. Assume that house values in Martin, TN have a mean of $64,500 with a standard deviation of $21,350. Answer the following probability questions concerning house values in Martin, TN. Part 1: If 1 randomly selected house in Martin, TN is selected, what is the probability that this house has a value under $60,000? Part 2: If 30 randomly selected houses in Martin, TN are selected, use the Central Limit Theorem to determine the probability that their average value is under $60,000?
use values in Martin, TN are known to have a distribution that is skewed to the right instead of being normally distributed. Assume that house values in Martin, TN have a mean of $64,500 with a standard deviation of $21,350. Answer the following probability questions concerning house values in Martin, TN. Part 1: If 1 randomly selected house in Martin, TN is selected, what is the probability that this house has a value under $60,000? Part 2: If 30 randomly selected houses in Martin, TN are selected, use the Central Limit Theorem to determine the probability that their average value is under $60,000?
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.3: Conditional Probability; Independent Events; Bayes' Theorem
Problem 64E
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Question
House values in Martin, TN are known to have a distribution that is skewed to the right instead of being
Part 1:
If 1 randomly selected house in Martin, TN is selected, what is the probability that this house has a value under $60,000?
Part 2:
If 30 randomly selected houses in Martin, TN are selected, use the Central Limit Theorem to determine the probability that their average value is under $60,000?
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