The average cost of a studio condominium in the Cedar Lakes development is $62,000 and the standard deviation is $4,200

The average cost of a studio condominium in the Cedar Lakes development is $62,000 and the standard deviation is $4,200.

What is the probability that a condominium in this development will cost at least $65,000?
Is the probability that the average cost of a sample of two condominiums will be at least $65,000 greater or less than the probability of one condominium’s costing that much? By how much?

Solution

Problems: Sampling and Sampling Distributions

Problem-01: Sampling and Sampling Distributions

In a sample of 25 observations from a normal distribution with mean 98.6 and standard deviation 17.2...

Problem-02: Sampling and Sampling Distributions

Mary Bartel, an auditor for a large credit card company, knows that, on average, the monthly balance...

Problem-03: Sampling and Sampling Distributions

In a sample of 16 observations from a normal distribution with a mean of 150 and a variance of 256, ...

Problem-04: Sampling and Sampling Distributions

In a sample of 19 observations from a normal distribution with mean 18 and standard deviation 4.8

Problem-05: Sampling and Sampling Distributions

In a normal distribution with mean 56 and standard deviation 21, how large a sample must be taken so...

Problem-06: Sampling and Sampling Distributions

In a normal distribution with mean 375 and standard deviation 48, how large a sample must be taken s...

Problem-07: Sampling and Sampling Distributions

An astronomer at the Mount Palomar Observatory notes that during the Gemind meteor shower, an averag...

Problem-08: Sampling and Sampling Distributions

The average cost of a studio condominium in the Cedar Lakes development is $62,000 and the standard ...

Problem-09: Sampling and Sampling Distributions

Robertson Employment Service customarily gives standard intelligence and aptitude tests to all peopl...

Problem-10: Sampling and Sampling Distributions

An oil refinery has backup monitors to keep track of the refinery flows continuously and to prevent ...

Problem-11: Sampling and Sampling Distributions

A recent study by the EPA has determined that the amount of contaminants in Minnesota lakes (in part...

Problem-11: Sampling and Sampling Distributions

Calvin Ensor, president of General Telephone Corp, is upset at the number of telephones produced by ...

Problem-11: Sampling and Sampling Distributions

Clara Voyant, Whose job is predicting the future for her venture capital company, has just received ...

Problem-14: Sampling and Sampling Distributions

Farmer Braun, Who sells grain to Germany, owns 60 acres of wheat fields. Based on past experience, h...

Problem-15: Sampling and Sampling Distributions

A ferry carries 25 passengers. The weight of each passenger has a normal distribution with mean 168 ...

Problem-16: Sampling and Sampling Distributions

From a population of 125 items with a mean of 105 and a standard deviation of 17,64 items were chose...

Problem-17: Sampling and Sampling Distributions

Jonida Martinez, researcher for the Columbian Coffee Corporation, is interested in determining the r...

Problem-18: Sampling and Sampling Distributions

From a population of 75 items with a mean of 364 and a variance of 18, 32 items were randomly select...

Problem-19: Sampling and Sampling Distributions

Given a population of size N = 80 with a mean of 22 and a standard deviation of 3.2 what is the prob...

Problem-20: Sampling and Sampling Distributions

For a population of size N = 80 with a mean of 8.2 and a standard deviation of 2.1, find the standar...

Problem-21: Sampling and Sampling Distributions

Tread-On-Us has desgned a new tire, and they don't know what the average amount of tread life is goi...

Problem-22: Sampling and Sampling Distributions

An underwater salvage team is preparing to explore a site off the coast of Florida where an entire f...

Problem-23: Sampling and Sampling Distributions

An X-ray technician is taking readings from her machine to ensure that it adheres to federal safety ...

Problem-24: Sampling and Sampling Distributions

Sara Gordon is heading a fund - raising drive for Milford College. She wishes to concentrate on the ...

Problem-25: Sampling and Sampling Distributions

Davis Aircraft Co. is developing a new wing de-icer system, which it has installed on 30 commercial ...

Problem-26: Sampling and Sampling Distributions

Food Place, a chain of 145 supermarkets, has been bought out by a larger nationwide supermarket chai...

Problem-27: Sampling and Sampling Distributions

Miss Joanne Happ, chief executive officer of Southwestern Life & Surety Corp, wants to undertake a s...

Problem-28: Sampling and Sampling Distributions

By reviewing sales since opening 6 months ago, a restaurant owner found that the average bill for a ...

Problem-29: Sampling and Sampling Distributions

The U>S. Customs Agency routinely checks all passengers arriving from foreign countries as they ente...

Problem-30: Sampling and Sampling Distributions

HAL Corporation manufactures large computer systems and has always prided itself on the reliability ...

Problem-31: Sampling and Sampling Distributions

Members of the Organization for Consumer Action send more than 250 volunteers a day all over the sta...

Problem-32: Sampling and Sampling Distributions

Jill Johnson, product manager for Southern Electric's smoke alarm, is concerned over recent complain...

Problem-33: Sampling and Sampling Distributions

Seventy data clerks at the Department of Motor Vehicles make an average of 18 errors per day, normal...

Sampling and Sampling Distributions

Problem-08: Sampling and Sampling Distributions

Solution

Problems: Sampling and Sampling Distributions

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