Suppose a subdivision on the southwest side of Denver, Colorado, contains1,700houses. The subdivision was built in 1983.
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Question:
Suppose a subdivision on the southwest side of Denver, Colorado, contains1,700houses. The subdivision was built in 1983. A sample of120houses is selected randomly and evaluated by an appraiser. If the mean appraised value of a house in this subdivision for all houses is $229,000, with a standard deviation of $8,400, what is the probability that the sample average is greater than $231,000?
Appendix A Statistical Tables
(Round the values of z to 2 decimal places, e.g. 15.25. Round your answer to 4 decimal places, e.g. 0.2513.)
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