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Question

For a sample of 36 houses, what would you wish the distribution of the sale prices to be? A real estate agent has been assigned 10 houses at random to sell this month. She wants to know whether the mean price of those houses is typical. What, if anything, does she need to assume about the distribution of prices to be able to use the Central Limit Theorem? Are those assumptions valid?

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 5In this exercise, we are tasked to:

- determine the distribution of the prices of the houses.
- determine the assumptions about the distribution of prices to utilize the Central limit theorem.
- determine if the assumptions are resonable

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