Answer:
a. 0.71
b. 0.9863
Step-by-step explanation:
a. The average of the distribution is specified as $403,000 with a standard deviation of $278,000.
-To calculate the probability of a randomly selected house having a value under $500,000:

Consequently, the probability that a randomly chosen house is valued at less than $500,000 is 0.71
b. -because 40 is greater than or equal to 30, we assume a normal distribution.
-As such, the probability can be computed as:

Thus, the likelihood that the average value of the 40 selected houses is below $500,000 is 0.9863