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The mean sale price of a new one bedroom unit in Western Australia is $200,000. A sample of 100 new one bedroom units is selected.
The mean sale price of a new one bedroom unit in Western Australia is $200,000. A sample of 100 new one bedroom units is selected. Assume that the population standard deviation is $25,000 and the sale price of one bedroom units is normally distributed. The standard error of the sample mean is ___________ (in dollars, zero decimal places).
The probability that the average sale price of this sample of one bedroom units will be greater than $195,000 is _______________ (4 decimal places).