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Imagine that a sample of 400 rental units shows that (i) the distribution of rents paid per month is not described by a normal distribution,
(ii) that the mean rent of the sample is $755, and (iii) the standard deviation of the sample is $100.
a) Without seeing the distribution, can you calculate the probability that the rent of a randomly selected unit will be greater than $800? If yes, calculate the probability; if no, explain.
b) Without seeing the distribution, can you calculate the probability that the mean rent of another sample of 400 units will be greater than $800? If yes, calculate the probability; if no, explain.
c) Why is the answer to (b) only an estimate? (What two numbers about the entire population are you not sure of?)
foster company makes 20000 units per year that in uses in products it manufactures
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