Purchase Solution

Computing probability for normally distributed data

Not what you're looking for?

Ask Custom Question

The U.S. Census Bureau announced that the median sales price of new houses sold in April 2008 was $221,600, and the mean sales price was $274,300 (www.census.gov/newhomesales, July 20, 2009). Assume that the standard deviation of the prices is $90,000. _
a If you select sample of n = 2, describe the shape of the sampling distribution of X.
b. If you _ select samples of n = 100, describe the shape of the sampling distribution of X
c. If you select a random sample of n =100, what is the probability that the sample mean will be less than $300,000?
d. If you select a random sample of n = 100, what is the probability that the sample mean will be between $275,000 and $290,000?

Purchase this Solution

Solution Summary

The solution gives detailed steps on calculating probability for normally distributed data using excel software. All the formula and calcuations are shown and explained.

Purchase this Solution


Free BrainMass Quizzes
Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.