A study at a college in the west coast reveals that, historically, 45% of their students are minority students. If random samples of size 75 are selected, 80% of the samples will have less than ________% of minority students.
Answer Key: 49.83
Assume that house prices in a neighborhood are normally distributed with standard deviation $20,000. A random sample of 16 observations is taken. What is the probability that the sample mean differs from the population mean by more than $5,000? For calculations, use your book table E.2.
Answer Key: 0.4532
I need to know how do to solve these. The answers have been given but i need to know how they got those asnwers.
For the first problem I think i need to figure the standard dev
I know for the second problem i need to use a z score but i dont know how to figure out the sample and population mean from the info given.