The average cost of a studio condominium in the Cedar Lakes development is $62,000 and the standard deviation is $4,200

The average cost of a studio condominium in the Cedar Lakes development is $62,000 and the standard deviation is $4,200.

What is the probability that a condominium in this development will cost at least $65,000?
Is the probability that the average cost of a sample of two condominiums will be at least $65,000 greater or less than the probability of one condominium’s costing that much? By how much?

Solution

Problems: Sampling and Sampling Distributions

Problem-01: Sampling and Sampling Distributions

In a sample of 25 observations from a normal distribution with mean 98.6 and standard deviation 17.2...

Problem-02: Sampling and Sampling Distributions

Mary Bartel, an auditor for a large credit card company, knows that, on average, the monthly balance...

Problem-03: Sampling and Sampling Distributions

In a sample of 16 observations from a normal distribution with a mean of 150 and a variance of 256, ...

Problem-04: Sampling and Sampling Distributions

In a sample of 19 observations from a normal distribution with mean 18 and standard deviation 4.8

Problem-05: Sampling and Sampling Distributions

In a normal distribution with mean 56 and standard deviation 21, how large a sample must be taken so...

Problem-06: Sampling and Sampling Distributions

In a normal distribution with mean 375 and standard deviation 48, how large a sample must be taken s...

Problem-07: Sampling and Sampling Distributions

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Problem-08: Sampling and Sampling Distributions

The average cost of a studio condominium in the Cedar Lakes development is $62,000 and the standard ...

Problem-09: Sampling and Sampling Distributions

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Problem-10: Sampling and Sampling Distributions

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Problem-11: Sampling and Sampling Distributions

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Problem-11: Sampling and Sampling Distributions

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Problem-11: Sampling and Sampling Distributions

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Problem-14: Sampling and Sampling Distributions

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Problem-15: Sampling and Sampling Distributions

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Problem-16: Sampling and Sampling Distributions

From a population of 125 items with a mean of 105 and a standard deviation of 17,64 items were chose...

Problem-17: Sampling and Sampling Distributions

Jonida Martinez, researcher for the Columbian Coffee Corporation, is interested in determining the r...

Problem-18: Sampling and Sampling Distributions

From a population of 75 items with a mean of 364 and a variance of 18, 32 items were randomly select...

Problem-19: Sampling and Sampling Distributions

Given a population of size N = 80 with a mean of 22 and a standard deviation of 3.2 what is the prob...

Problem-20: Sampling and Sampling Distributions

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Problem-21: Sampling and Sampling Distributions

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Problem-22: Sampling and Sampling Distributions

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Problem-23: Sampling and Sampling Distributions

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Problem-24: Sampling and Sampling Distributions

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Problem-25: Sampling and Sampling Distributions

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Problem-26: Sampling and Sampling Distributions

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Problem-27: Sampling and Sampling Distributions

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Problem-28: Sampling and Sampling Distributions

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Problem-29: Sampling and Sampling Distributions

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Problem-30: Sampling and Sampling Distributions

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Problem-31: Sampling and Sampling Distributions

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Problem-32: Sampling and Sampling Distributions

Jill Johnson, product manager for Southern Electric's smoke alarm, is concerned over recent complain...

Problem-33: Sampling and Sampling Distributions

Seventy data clerks at the Department of Motor Vehicles make an average of 18 errors per day, normal...

Sampling and Sampling Distributions

Problem-08: Sampling and Sampling Distributions

Solution

Problems: Sampling and Sampling Distributions

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