Give probability bounds on the value of the sample mean

Reference no: EM13139869

Residential real estate in New York rents for an average of $44 per square foot, for a certain segment of the market.14 If the population standard deviation is $7, and a random sample of 50 properties is chosen, what is the probability that the sample average will be below $35? Give 0.95 probability bounds on the value of the sample mean that would be obtained. Also give 0.90 probability bounds on the value of the sample mean.

Reference no: EM13139869

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Give probability bounds on the value of the sample mean : Give 0.95 probability bounds on the value of the sample mean that would be obtained. Also give 0.90 probability bounds on the value of the sample mean.

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