The mean selling price of senior condominiums in Green Valley over a year was $215,000. The population standard deviation was $25,000. A random sample of 100 new unit sales was obtained.
a. What is the probability that the sample mean selling price was more than $210,000?
b. What is the probability that the sample mean selling price was between $213,000 and $217,000?
c. What is the probability that the sample mean selling price was between $214,000 and $216,000?
d. Without doing the calculations, state in which of the following ranges the sample mean selling price is most likely to lie:
$213,000 to $215,000; $214,000 to $216,000;
$215,000 to $217,000; $216,000 to $218,000
e. Suppose that, after you had done these calculations, a friend asserted that the population distribution of selling prices of senior condominiums in Green Valley was almost certainly not normal. How would you respond?