Question

Ms. Ramírez is a real estate broker. Last month, the sale prices of homes in her area approximated a normal distribution with a mean of $150,000 and a standard deviation of $25,000. What is the probability that the sale is less than $175,000?(1 point) The probability that the sale is less than $175,000 is

Answer 1

0.8413.

To find the probability that the sale price is less than $175,000, we need to calculate the z-score first:

z = (X - μ) / σ
z = (175,000 - 150,000) / 25,000
z = 25,000 / 25,000
z = 1

Using a z-table or a calculator, we can find that the probability of a z-score of 1 is approximately 0.8413. Therefore, the probability that the sale price is less than $175,000 is 0.8413.

Answer 2

This answer is wrong.

Answer 3

To find the probability that the sale price is less than $175,000, we need to calculate the z-score first:

z = (X - μ) / σ
z = (175,000 - 150,000) / 25,000
z = 25,000 / 25,000
z = 1

Using standard normal distribution Z-tables, we can find the probability corresponding to a z-score of 1, which is approximately 0.8413.

Therefore, the probability of the sale price being less than $175,000 is approximately 0.8413 or 84.13%.