What is the standard error of the sample mean

Reference no: EM13552943

A town has 500 real estate agents. The mean value of the properties sold in a year by these agents is $800,000 and the standard deviation is $300,000. A random sample of 100 agents is selected, and the value of the properties they sold in a year is recoreded.

a. What is the standard error of the sample mean?
b. What is the probability that the sample mean exceeds $ 825,000?
c. What is the probability that the sample mean exceeds $ 780,000?
d. What is the probability that the sample mean is between 790,000 and 820,000?

Reference no: EM13552943

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