the prices of houses in the us are strongly skewed to the right with a mean of $383,500 and a standard deviation of $289,321. a real estate agent takes a random sample of 10 houses and records the mean price. what is the shape of the distribution of the sample mean for all possible random samples of size 10 from this population? skewed left skewed right approximately normal approximately uniform

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21-11-2022
Mathematics

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the prices of houses in the us are strongly skewed to the right with a mean of $383,500 and a standard deviation of $289,321. a real estate agent takes a random sample of 10 houses and records the mean price. what is the shape of the distribution of the sample mean for all possible random samples of size 10 from this population? skewed left skewed right approximately normal approximately uniform

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The sample means a distribution from this population will be right-skewed for all conceivable random samples of size 10.

What do we mean by the sample mean?

The mean value of a data sample drawn from a significant data population is referred to as the "Sample Mean."
It is a useful tool for figuring out the population mean if the sample size is large and the statistical researchers randomly choose portions of the population.
The most obvious advantage of the sample means is the ability to provide information that is appropriately applicable to a larger group.
This is important because it makes it possible to conduct statistical analysis without having to go through the challenging process of surveying each participant.

So, in the situation where, home prices in the US are heavily skewed to the right, with a mean price of $383,500 and a standard deviation of $289,321.

For all conceivable random samples of size 10 from this population, the sample means distribution will have a right-skewed form.

Therefore, the sample means a distribution from this population will be right-skewed for all conceivable random samples of size 10.

Know more about the sample mean here:

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