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Describe the shape of the sampling distribution

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Question: The U.S. Census Bureau announced that the median sales price of new houses sold in March 2006 was $224,200, while the mean sales price was $279,100 (www.census.gov/newhomesales, April 26, 2006). Assume that the standard deviation of the prices is $90,000.

a. If you select samples of n = 2, describe the shape of the sampling distribution of x.

b. If you select samples of n = 100, describe the shape of the sampling distribution of x.

c. If you select a random sample of n = 100, what is the probability that the sample mean will be less than $250,000?

Reference no: EM131689277

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