The distribution of prices for single-family homes in the U.S. is bell-shaped and symmetric. If the...
The distribution of prices for single-family homes in the U.S. is bell-shaped and symmetric. If the mean single-family home price for all U.S. states including D.C is 118,579 with a standard deviation of 39,830, find the percentage of homes with a price greater than 198,239.
Please show work also. Thank you.
Homework Answers
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Use empirical rule also known as 68-95-99.7 rule,
Plug in all the calculated values in the graph, we get
The required area under the normal curve
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The distribution of prices for single-family homes in the U.S.
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