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Prices of studio condominiums in the Cedar Lake development follow a normal distribution . The average price of a studio condominium in the Cedar Lakes
Prices of studio condominiums in the Cedar Lake development follow a normal distribution . The average price of a studio condominium in the Cedar Lakes development is $215,000 and the standard deviatior is $25,000. (a) What is the probability that a randomly chosen condominium in the Cedar Lakes development will cost at least $200,000 ? Draw a graph to illustrate your answer. (b) You talk to a real estate agent who shows you a of 50 condominiums that are on sale in the Cedar Lakes development Calculate the probability that the average price of a condominium in your sample lies between $209,00 and $220,000 . Explain. Draw a graph to illustrate your
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