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SVETLANKA909090
8 days ago
12

(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.

Mathematics
1 answer:
tester [12.3K]8 days ago
3 0

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:

P(X

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:

P(\bar X)=P(z

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

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In order to calculate the distance from (0,1,1), we must remove t from the equations above, such that

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1 month ago
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