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Determine the mean price of roy sample

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According to the U.S. Census Bureau, the mean price for a new single-family home in 2013 was $324,500. Assume that the standard deviation is $30,000. Roy selects a SRS of 100 homes. He determines that 14.46% of possible samples would have a mean greater than the mean of his sample. Use the Central Limit Theorem to determine the mean price of Roy's sample. Round your final answer to the nearest dollar if needed.

Reference no: EM132413637

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