MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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The following histogram shows the distribution of house values in a certain city. The mean of the distribution is $403,000 and the standard deviation is $278,000.
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.
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.
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