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Compute the average price of a house on marco island

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Reference no: EM131692745

Question: According to a recent article in Worth, the average price of a house on Marco Island, Florida, is $2.6 million. Assume that the standard deviation of the prices is $400,000. A random sample of 75 houses is taken and the average price is computed. What is the probability that the sample mean exceeds $3 million?

Reference no: EM131692745

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