Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A startup firm that specializes in city real estate wants to study the rates that other firms chargefor similar realty services. Past data reveals that

A startup firm that specializes in city real estate wants to study the rates that other firms chargefor similar realty services. Past data reveals that the hourly charge fora property management servicehas a mean of$36

, with standard deviation$11

.The normal distribution for the population is shown by the dotted black line.

The agencyplans to take a random sample of45

such services and will calculate the mean hourly rate of the sample to compare to the known hourly rate. Compute thethe mean and standard deviation of the sampling distribution of sample means for a sample of size45

. Round your answers to the nearest tenth.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Algebra

Authors: Robert F Blitzer

7th Edition

013449492X, 9780134453262

More Books

Students also viewed these Mathematics questions

Question

How many multiples of 4 are there between 10 and 250?

Answered: 1 week ago