The following histogram shows the distribution of house values in a certain city. The mean of the distribution is $403,000 and the standard deviation is $278,000. (a) Suppose one house from the city...


Would you please show me how to solve both problems, but specifically with subpart b, how to solve it using a z score as well as how to solve it using normal cdf on a calculator (if applicable)? Thank you!


The following histogram shows the distribution of house values in a certain city. The<br>mean of the distribution is $403,000 and the standard deviation is $278,000.<br>(a) Suppose one house from the city will be selected at random. Use the histogram to<br>estimate the probability that the selected house is valued at less than $500,000. Show<br>your work.<br>(b) Suppose a random sample of 40 houses are selected from the city. Estimate the<br>probability that the mean value of the 40 houses is less than $500,000. Show your work<br>0.40-<br>0.35-<br>0.30-<br>0.25-<br>0.20-<br>0.15-<br>0.10-<br>0.05-<br>0-<br>500<br>1,000<br>1,500<br>2,000<br>2,500<br>Value (thousands of dollars)<br>Relative Frequency<br>

Extracted text: The following histogram shows the distribution of house values in a certain city. The mean of the distribution is $403,000 and the standard deviation is $278,000. (a) Suppose one house from the city will be selected at random. Use the histogram to estimate the probability that the selected house is valued at less than $500,000. Show your work. (b) Suppose a random sample of 40 houses are selected from the city. Estimate the probability that the mean value of the 40 houses is less than $500,000. Show your work 0.40- 0.35- 0.30- 0.25- 0.20- 0.15- 0.10- 0.05- 0- 500 1,000 1,500 2,000 2,500 Value (thousands of dollars) Relative Frequency

Jun 10, 2022
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