Apartment cost. The average cost of an apartment in the Cedar Lakes development is $62,000 USD with a standard deviation of $4,200 USD. a. What is the probability that an apartment in this development costs at least $65,000 USD? b. Is the probability that the average cost of a sample of two apartments is at least $65,000 USD greater or less than the probability that an individual apartment costs that much? By how much does it differ

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.3: Special Probability Density Functions
Problem 40E: Pygmy Height The average height of a member of a certain tribe of pygmies is 3.2ft, with a standard...
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Apartment cost. The average cost of an apartment in the Cedar Lakes development is $62,000 USD with a standard deviation of $4,200 USD.
a. What is the probability that an apartment in this development costs at least $65,000 USD?
b. Is the probability that the average cost of a sample of two apartments is at least $65,000 USD greater or less than the probability that an individual apartment costs that much? By how much does it differ?

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