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Distribution of housing prices in topanga symmetric

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A housing survey was conducted to determine the price of a typical home in Topanga, CA. The mean price of a house was roughly $1.3 million with a standard deviation of $300,000. There were no houses listed below $600,000 but a few houses above $3 million.

(a) Is the distribution of housing prices in Topanga symmetric, right skewed, or left skewed? Hint: Sketch the distribution.

-right skewed

-left skewed

-symmetric

(b) Would you expect most houses in Topanga to cost more or less than $1.3 million?

-less
-more

(c) What is the probability that the mean of 60 randomly chosen houses in Topanga is more than $1.4 million?

(please round to four decimal places)

Reference no: EM132845776

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