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What is the probability that the investment property

Suppose the value of investment properties is normally distributed witha mean of $550,000 and a standard deviation of $70,000. An investment property israndomly selected.

(a) What is the probability that the investment property selected is worth less than $400,000?

(b) What is the probability that the investment property selected is worth between $450,000 and $600,000?

(c) What is the value of a particular investment property if only 10% of all investment properties are more valuable than this property?

(d) One investor has 20 properties. What is the probability that the total value of these properties is more than $15 million?

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Solution Preview :

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Basic Statistics: What is the probability that the investment property

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Basic Statistics: What is the probability that the investment property

Reference No:- TGS0584649

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