Show the sampling distribution of the sample mean price, Microeconomics

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Show the sampling distribution of the sample mean price

he population mean for the price of a new one family home is $166,500. Assume that the population standard deviation is $42,000 and that a sample of 100 new one family homes will be selected.

a) show the sampling distribution of the sample mean price for new homes based on the sample of 100.

b) what is the probability that the sample mean for the 100 new homes will be within $10,000 of the population mean?

c) Repeat part (b) for values $5000, $2500, $1000.

d) To estimate the population mean price to within +- $2500 or +-$1000, what would you recommend?

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Microeconomics: Show the sampling distribution of the sample mean price

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Microeconomics: Show the sampling distribution of the sample mean price

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Recent Questions Asked Microeconomics

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Microeconomics: Show the sampling distribution of the sample mean price

Reference No:- TGS072477

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