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2. Suppose we select a ransom sample of size forty recently issued building permits for improvements to existing residential structures and record the value, X, of each permit. Prior experience has shown that, in Worcester County, the relative frequency distribution for the value of such building permits has a mean of $8,000 and a standard deviation of $1,500. a). Describe carefully the sampling distribution of the mean value of a sample of forty building permits. b). What is the probability that mean value of the permits in the sample will be less than $7,500? c). What is the probability that the mean value of the permits in the sample will be between $7,500 and $8,500?

2. Suppose we select a ransom sample of size forty recently issued building permits for improvements to existing residential structures and record the value, X, of each permit. Prior experience has shown that, in Worcester County, the relative frequency distribution for the value of such building permits has a mean of $8,000 and a standard deviation of $1,500. a). Describe carefully the sampling distribution of the mean value of a sample of forty building permits. b). What is the probability that mean value of the permits in the sample will be less than $7,500? c). What is the probability that the mean value of the permits in the sample will be between $7,500 and $8,500?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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2. Suppose we select a ransom sample of size forty recently issued building permits for improvements to existing residential structures and record the value, X, of each permit. Prior experience has shown that, in Worcester County, the relative frequency distribution for the value of such building permits has a mean of $8,000 and a standard deviation of $1,500. a). Describe carefully the sampling distribution of the mean value of a sample of forty building permits. b). What is the probability that mean value of the permits in the sample will be less than $7,500? c). What is the probability that the mean value of the permits in the sample will be between $7,500 and $8,500?
Transcribed Image Text:2. Suppose we select a ransom sample of size forty recently issued building permits for improvements to existing residential structures and record the value, X, of each permit. Prior experience has shown that, in Worcester County, the relative frequency distribution for the value of such building permits has a mean of $8,000 and a standard deviation of $1,500. a). Describe carefully the sampling distribution of the mean value of a sample of forty building permits. b). What is the probability that mean value of the permits in the sample will be less than $7,500? c). What is the probability that the mean value of the permits in the sample will be between $7,500 and $8,500?
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