(a) Suppose one house from the city will be selected at random. Use the histogram to estimate the probability that the selected
house is valued at less than $500,000. Show your work.
(b) Suppose a random sample of 40 houses are selected from the city. Estimate the probability that the mean value of the 40 houses is less than $500,000. Show your work.
(b) Suppose a random sample of 40 houses are selected from the city. Estimate the probability that the mean value of the 40 houses is less than $500,000. Show your work.
1 answer:
Answer:
a. 0.71
b. 0.9863
Step-by-step explanation:
a. The mean of the distribution is given as $403,000 and the standard deviation is $278,000.
-To estimate the probability that a randomly selected house has a value less than $500,000:
Thus, the probability that a randomly selected house has a value less than $500,000 is 0.71
b. -since 40 is larger than or equal to 30, we assume normal distribution.
-The probability can therefore be calculated as:
Hence, the probability that the mean value of the 40 houses is less than $500,000 is 0.9863
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Solution:
As region bounded by y-axis, the line y=6, and the line y=1/2 is a line segment of definite length on y-axis.
We consider a line , one dimensional if it's thickness is negligible.
So, Line is two dimensional if it's thickness is not negligible becomes a quadrilateral.
So, Area (region bounded by y-axis, the line y=6, and the line y=1/2 is a line segment of definite length on y-axis)= Area of line segment between [,y=6 and y=1/2.]= 6-1/2=11/2 units if we consider thickness of line as negligible.
