Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The random variable X represents the house rent price in Istanbul. It has a mean of 5000 TL and a standard deviation of 400 TL.
The random variable X represents the house rent price in Istanbul. It has a mean of 5000 TL and a standard deviation of 400 TL. A random sample of 36 rent houses is taken from Istanbul. It is assumed that the distribution x is the sample mean of rent prices in Istanbul.
(a) What is the probability that the sample mean falls between 4800 TL and 5200 TL?
(b) What is the sample size n in order to have P(4900 < x < 5100) = 0.99
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started