What is probability that sample average will below given

Reference no: EM131372298

In given problem, give 0.95 probability bounds on the value of the sample mean that would be obtained. Also give 0.90 probability bounds on the value of the sample mean.

Problem :-
Residential real estate in New York rents for an average of $44 per square foot, for a certain segment of the market. If the population standard deviation is $7, and a random sample of 50 properties is chosen, what is the probability that the sample average will be below $35?

Reference no: EM131372298

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