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?

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House 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?

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