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Home prices in a certain community have a distribution that is skewed right. The mean of...

Home prices in a certain community have a distribution that is skewed right. The mean of the home prices is $498,000 with a standard deviation of $25,200.

a. Suppose we take a random sample of 30 homes in this community. What is the probability that the mean of this sample is between $500,000 and $510,000?

b. Suppose we take a random sample of 10 homes in this community. Can we find the approximate probability that the mean of the sample is more than $510,000? If so, find it. If not, explain why not.

Math   Statistics-And-Probability   
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