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A housing survey was conducted to determine the price of a typical home in Topanga, CA. The mean price of a house was roughly
A housing survey was conducted to determine the price of a typical home in Topanga, CA. The mean price of a house was roughly $1.3 million with a standard deviation of $300,000. There were no houses listed below $600,000 but a few houses above $3 million. (a) Is the distribution of housing prices in Topanga symmetric, right skewed, or left skewed? Hint: Sketch the distribution. O right skewed O left skewed O symmetric 0 (b) Would you expect most houses in Topanga to cost more or less than $1.3 million? Omore Oless (c) What is the probability that the mean of 60 randomly chosen houses in Topanga is more than $1.4 million? x (please round to four decimal places)
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