Home prices in a particular neighborhood average $350k with a standard deviation of $30k. They are not Normally distributed. Your realtor pulls a random sample of 30 houses for you to look at. What is the probability that the average price of these 30 houses is more than $345k? (Please round your answer to 3 decimal places: ex, 0.123)

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter17: Making Decisions With Uncertainty
Section: Chapter Questions
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Home prices in a particular neighborhood average $350k with a standard deviation of $30k. They are not Normally distributed. Your realtor pulls a random sample of 30 houses for you to look at.

What is the probability that the average price of these 30 houses is more than $345k? (Please round your answer to 3 decimal places: ex, 0.123)

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