A housing survey was conducted to determine the price of a typical home in Topanga, CA. The mean price of a house was roughly $1.3 million with a standard deviation of $300,000. There were no houses listed below $600,000 but a few houses above $3 million. 1. Is the distribution of housing prices in Topanga symmetric, right skewed, or left skewed?
A. Onight skewed.
B. Left skewed.
C. Symmetric
2. Would you expect most houses in Topanga to cost more or less than $1.3 million?
a. less.
b. more
3. What is the probability that the mean of 60 randomly chosen houses in Topanga is more than $1.4 million?
4. Suppose that a random sample of size 64 is to be selected from a population with mean 40 and standard deviation 5.
A. What is the mean of the 2 sampling distribution?
B. What is the standard deviation of the I sampling distribution?
C. What is the approximate probability that I will be within 0.5 of the population mean u?
D. What is the approximate probability that I will differ from by more than 0.72?