The Real Estate Group NY reports that the mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is $2631. Assume the standard deviation is $500. A real estate firm samples 100 apartments. (a) What is the probability that an individual apartment would have a rent greater than $2800? Based on your answer, do you think it would be unusual for an individual apartment to have a rent greater than $2800? Explain. (b) What is the probability that the sample mean would be greater than $2800? Based on your answer, do you think it would be unusual if the sample mean were greater than $2800? Explain.

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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7. The Real Estate Group NY reports that the mean monthly rent for a one-bedroom
apartment without a doorman in Manhattan is $2631. Assume the standard deviation
is $500. A real estate firm samples 100 apartments.
(a) What is the probability that an individual apartment would have a rent greater than
$2800? Based on your answer, do you think it would be unusual for an individual
apartment to have a rent greater than $2800? Explain.
(b) What is the probability that the sample mean would be greater than $2800? Based
on your answer, do you think it would be unusual if the sample mean were greater
than $2800? Explain.
Transcribed Image Text:7. The Real Estate Group NY reports that the mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is $2631. Assume the standard deviation is $500. A real estate firm samples 100 apartments. (a) What is the probability that an individual apartment would have a rent greater than $2800? Based on your answer, do you think it would be unusual for an individual apartment to have a rent greater than $2800? Explain. (b) What is the probability that the sample mean would be greater than $2800? Based on your answer, do you think it would be unusual if the sample mean were greater than $2800? Explain.
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