Suppose a subdivision on the southwest side of Denver, Colorado, contains 1,800 houses. The subdivision was built in 1983. A sample of 110 houses is selected randomly and evaluated by an appraiser. If the mean appraised value of a house in this subdivision for all houses is $225,000, with a standard deviation of $8,500, what is the probability that the sample average is greater than $226,000?
| sample size | n= | 110 |
| population std deviation | σ= | 8500 |
| population size | N= | 1800 |
| std errror 'σx̅=(σ/√n)*√((N-n)/(N-1))= | 785.5075 | |
| for normal distribution z score =(X-μ)/σx |
probability that the sample average is greater than $226,000 :
| probability =P(X>226000)=P(Z>(226000-225000)/785.508)=P(Z>1.27)=1-P(Z<1.27)=1-0.898=0.1020 |
Suppose a subdivision on the southwest side of Denver, Colorado, contains 1,800 houses. The subdivision was...
Suppose a subdivision on the southwest side of Denver, Colorado, contains 1,500 houses. The subdivision was built in 1983. A sample of 100 houses is selected randomly and evaluated by an appraiser. If the mean appraised value of a house in this subdivision for all houses is $227,000, with a standard deviation of $8,500, what is the probability that the sample average is greater than $229,000?
Suppose a subdivision on the southwest side of Denver, Colorado, contains 1,500 houses. The subdivision was built in 1983. A sample of 120 houses is selected randomly and evaluated by an appraiser. If the mean appraised value of a house in this subdivision for all houses is $229,000, with a standard deviation of $8,700, what is the probability that the sample average is greater than $230,500? Appendix A Statistical Tables. (Round the values of z to 2 decimal places. Round...