CREA puts the average price at which a house was sold in Canada in 2014 at $415,100.

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CREA puts the average price at which a house was sold in Canada in 2014 at $415,100. Let’s assume that the standard deviation of the house prices is $134,216. Suppose you’d done a survey of a random selection of 36 house sale prices in 2014 and obtained an average house price of $368,533. What’s the chance that such a survey would have resulted in an average price this low or lower?

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Business Statistics

ISBN: 9780133899122

3rd Canadian Edition

Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright

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