TABLE 7-3 The Mean Selling Price of New Homes in a Small

question 141

Short Answer

TABLE 7-3
The mean selling price of new homes in a small town over a year was $115,000. The population standard deviation was $25,000. A random sample of 100 new home sales from this city was taken.
-Referring to Table 7-3, what is the probability that the sample mean selling price was between $114,000 and $116,000?

---

Definitions:

Raclette Cheese

Raclette Cheese is a semi-hard cheese from Switzerland, known for its melting qualities and typically used in the dish also called Raclette, where the cheese is heated and scraped onto dishes.

New Potatoes

Young potatoes that have been harvested early in the season, known for their thin skins and tender texture.

Demand Curve

A graphical representation that shows the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.

Thin-Crust Pizza

A type of pizza characterized by its slim, crisp base, offering a crunchy texture and contrasting with thicker pizza variants.