Problem
A subdivision in Portland, Oregon contains 850 homes. A sample of 100 homes is selected randomly is $325,000, with a standard deviation of $18.500. (Refer to Chap 7.2 - Sampling distribution of sample
1. For this problem does the finite correction factor need to be used? Yes or No.
2. What is the value of the finite correction factor?
3. What is the probability that the sample mean is greater than $330,000?