If the mean appraised value of a house in this subdivision


Question: 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 $177,000, with a standard deviation of $8,500, what is the probability that the sample average is greater than $185,000?

Solution Preview :

Prepared by a verified Expert
Basic Statistics: If the mean appraised value of a house in this subdivision
Reference No:- TGS02466931

Now Priced at $15 (50% Discount)

Recommended (99%)

Rated (4.3/5)