The distribution of prices for home sales in a certain New Jersey county is skewed to the right with a mean of $290,000 and a standard deviation of $145,000. Suppose Mrs. McCann selects a simple random sample of 100 home sales from this (very large) population. What is the probability that the mean of the sample is greater than $325,000

The probability that the mean of the sample is greater than $325,000

Step-by-step explanation:

Step(i):-

Given the mean of the Population( )= $290,000

Standard deviation of the Population = $145,000

Given the size of the sample 'n' = 100

Given 'X⁻'  be a random variable in Normal distribution

Let   X⁻ = 325,000

Step(ii):-

The probability that the mean of the sample is greater than $325,000

                           = 0.5 - A(2.413)

                           = 0.5 - 0.4920

                           = 0.008

Final -

The probability that the mean of the sample is greater than $325,000

step-by-step explanation:

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