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In the first quarter of 2014, the rental cost of a three-bedroom house in a regional town was $300 with a standard deviation of $30.
In the first quarter of 2014, the rental cost of a three-bedroom house in a regional town was $300 with a standard deviation of $30. Assume that the rental costs are normally distributed. If you select a random sample of ten rental properties, what is the probability that the sample will have a mean rental cost of:
- Less than $275?
- Between $280 and $300?
- Greater than $310?
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