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Atown has 500 real estate agents. The mean value of the properties sold in a year by these agents is $650,000, and the standard deviation
Atown has 500 real estate agents. The mean value of the properties sold in a year by these agents is $650,000, and the standard deviation is $150,000. A random sample of 100 agents is selected, and the value of the properties they sold in a year is recorded. a. What is the standard error of the sample mean? b. What is the probability that the sample mean exceeds $663,000? c. What is the probability that the sample mean exceeds $637,000? d. What is the probability that the sample mean is between $631,000 and $668,000? a Click on the icon to view the standard normal table. a. The standard error of the sample mean is 1500 . (Round to the nearest integer as needed.) b. The probability that the sample mean exceeds $663,000 is (Round to four decimal places as needed.) c. The probability that the sample mean exceeds $637,000 is (Round to four decimal places as needed.) d. The probability that the sample mean is between $631,000 and $668,000 is (Round to four decimal places as needed.)
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