Answer:
The probability that the mean of this sample of home purchases is between 173 and 174 homes
P(173≤X≤174) = 0.0936
Step-by-step explanation:
Step(i):-
Given that the mean of the Population = 175
Given that the standard deviation of the Population = 6
Let 'x⁻' be the mean of the random sample
Given that x₁⁻ = 173
[tex]Z_{1} = \frac{x^{-}-mean }{\frac{S.D}{\sqrt{n} } } = \frac{173-175}{\frac{6}{\sqrt{60} } } =-2.58[/tex]
Given that x₂⁻ = 174
[tex]Z_{2} = \frac{x^{-}-mean }{\frac{S.D}{\sqrt{n} } } = \frac{174-175}{\frac{6}{\sqrt{60} } } = -1.29[/tex]
Step(ii):-
The probability that the mean of this sample of home purchases is between 173 and 174 homes
P(X₁≤X≤X₂) = P(Z₁≤Z≤Z₂)
= P(Z≤Z₂) - P(Z≤Z₂) ( both values 'Z' values are negative)
= 0.5 -A(Z₁) - (0.5 -A(Z₂))
= |A(Z₂) -A(Z₁)|
P(173≤X≤174) = | A(2.58)-A(1.29)|
= 0.4951 - 0.4015 (∵ from normal table)
= 0.0936
Final answer:-
The probability that the mean of this sample of home purchases is between 173 and 174 homes
P(173≤X≤174) = 0.0936