A report announced that the median sales pric deviation of the prices is $80,000

Question

A report announced that the median sales pric deviation of the prices is $80,000 Complete parts (a) through (d) below e of new houses sold one year was $211,000, and the mean sales price was $273,200. Assume that the standard (a) If you select samples of n 2, describe the shape of the sampling distribution of X Choose the correct answer below O A. The samping distribution is skewed to the right, but less skewed to the right than the population O B. The sampling distribution will be approximately uniform O C. The sampling distribution will depend on the specific samplo and will not have a constant shape. O D. The sampling distribution will be approximately normal (b) you select samples of n : 100, describe the shape of the sampling distrbution of R Choose the correct answer below o A. The samping dstribution is skewed to the nght, but lessed skew to the tight than the population. O B. The sampling distribution will be approximately uniform O C. The sampling distribution will depend on the specific sample and will not have a constant shape O D. The sampling distribution will be approximately normal (c) If you select a random sampke of n 100, what is the probability that the sample mean will be less than $300,000? The probability that the sample moan will be less than $300,000 is

Explanation / Answer

a)

option A is correct

b)

option D is correct

c)

P(Xbar<300000)=P(Z<(300000-273200)/(80000/sqrt(100))=P(Z<3.35)=0.9996

d)

P(275000<Xbar<295000)=P(0.23<Z<2.73)=0.9968-0.5910=0.4058

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