Example 3: A study was conducted that found the average price for an individual's first home in the United States was $233,500. Assume this data was normally distributed with a population standard...

Extracted text: Example 3: A study was conducted that found the average price for an individual's first home in the United States was $233,500. Assume this data was normally distributed with a population standard deviation of $14,750. Use this information to answer the following questions. It can be very useful to draw a quick sketch of what the problem is asking for. a) Find the z-score that would correspond to a home price of $240,000. b) What is the probability that a randomly selected individual's first home price would be no more than $250,000? c) What is the probability that a randomly selected individual's first home price would be less than $230,000 or greater than $250,000?