The Real Estate Group NY reports that the mean monthly rent for a one-bedroomapartment without a doorman in Manhattan is $2750. Assume the standard deviationis $650. A real estate firm samples 100 apartments. (a) What is the probability that an individual apartment would have a rent greater than $3000? Based on your answer, do you think it would be unusual for an individualapartment to have a rent greater than $3000? Explain. (b) What is the probability that the sample mean would be greater than $3000? Based on your answer, do you think it would be unusual if the sample mean were greater than $3000? Explain.
The Real Estate Group NY reports that the mean monthly rent for a one-bedroomapartment without a doorman in Manhattan is $2750. Assume the standard deviationis $650. A real estate firm samples 100 apartments. (a) What is the probability that an individual apartment would have a rent greater than $3000? Based on your answer, do you think it would be unusual for an individualapartment to have a rent greater than $3000? Explain. (b) What is the probability that the sample mean would be greater than $3000? Based on your answer, do you think it would be unusual if the sample mean were greater than $3000? 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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The Real Estate Group NY reports that the mean monthly rent for a one-bedroomapartment without a doorman in Manhattan is $2750. Assume the standard deviationis $650. A real estate firm samples 100 apartments.
(a) What is the
Based on your answer, do you think it would be unusual for an individualapartment to have a rent greater than $3000? Explain.
(b) What is the probability that the sample mean would be greater than $3000? Based on your answer, do you think it would be unusual if the sample mean were greater than $3000? Explain.
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