To analyse the real estate market in non-capital cities and towns in states A and B, Safe-As-Houses Real Estate, a large national real estate company, has collected samples of recent residential sales from a sample of non-capital cities and towns in these states.

To analyse the real estate market in non-capital cities and towns in states A and B, Safe-As-Houses Real Estate, a large national real estate company, has collected samples of recent residential sales from a sample of non-capital cities and towns in these states. The data are stored in < real_estate=””>. a Find the mean price for the sample of 125 properties sold in regional city 1 of state A. What is the probability of finding a sample mean at least this large if the population mean and standard deviation of prices for this city are $300,000 and $100,000 respectively? b Now find the mean price for the sample of 125 properties sold in the coastal city of state B. What is the probability that the sample mean is less than or equal to this value if the population mean and standard deviation for this city are $595,000 and $287,000 respectively? c Discuss why your answers to (a) and (b) are not the same as finding comparable probabilities for individual properties sold in each city?

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