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the mean selling price of senior condominium in green valley over a year was $215,000. the population standard deviation was $25,000. a random sample of 100 new unit sales was obtained. a. what is the probability that the sample mean selling price was more than $210,000?



Answer :

The probability that the sample mean selling price was more than $210,000 is 0.9772.

The given values are:

The mean selling price(μ) = $215000

Standard deviation(σ) = $25000

The random sample (n) = 100

We have to find the probability that the sample mean selling price was more than $210000.

z-score with z-bar= 210000

z = (x-bar - μ) / (σ/ √n)

 = ( 210000 - 215000) / (25000/ √100)

 = -5000/ 2500

 =-2

Using z-tables, the probability is:

Probability = P[z> -2]

                  = 1 - 0.0228

                  = 0.9772

Therefore the probability is 0.9772.

To know more about the probability refer to the link given below:

https://brainly.com/question/13604758

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