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I am in a bit of a rush, thank you! 1. [4 points) Suppose house prices in a city sold last year approximately follow a
I am in a bit of a rush, thank you!
1. [4 points) Suppose house prices in a city sold last year approximately follow a normal distri- bution with a mean of $4001: and a standard deviation of $100k. a) [1] What is the probability that someone who bought a house last year would pay between $380k and $410k? b) [3] If we randomly select 16 people who bought a house last year, what is the probability that they paid on average less than $380? Explain if you meet the conditionsStep by Step Solution
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