# A construction company in Naples, Florida, is struggling to sell condominiums. In order to attract buyers, the company has made numerous price…

A construction company in Naples, Florida, is struggling to sell condominiums. In order to attract buyers, the company has made numerous price reductions and better financing offers. Although condominiums were once listed for \$300,000, the company believes that it will be able to get an average sale price of \$210,000. Let the price of these condominiums in the next quarter be normally distributed with a standard deviation of \$15,000. Use Table 1.

a.What is the probability that the condominium will sell at a price (i) below \$200,000?, (ii) above \$240,000? (Round “z” value to 2 decimal places and final answer to 4 decimal places.)

Probability

Below \$200,000

Above \$240,000

b.The company is also trying to sell an artist’s condo. Potential buyers will find the unusual features of this condo either pleasing or objectionable. The manager expects the average sale price of this condo to be the same as others at \$210,000, but with a higher standard deviation of \$20,000. What is the probability that this condo will sell at a price (i) below \$200,000?, (ii) above \$240,000? (Round your answers to 4 decimal places.)

Probability

Below \$200,000

Above \$240,000

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.