THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 39

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The mean selling price of new homes in a city over a year was $120,000.The population standard deviation was $28,000.A random sample of 100 new home sales from this city was taken.
-What is the probability that the sample mean selling price was more than $116,000?

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Definitions:

Annual Lottery

A scheduled, periodic event typically organized by a state or organization where participants can win prizes based on chance.

U.S. Labor Force

The total number of people available for work in the United States, including those who are currently employed and those who are actively seeking employment.

Diversity Immigrants

Individuals who gain legal entry into a country under specific immigration programs aimed at enhancing the diversity of the population, often through a lottery system.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time frame.