Question

Assume the average selling price for houses in a certain county is ​$329,000 with a standard deviation of ​$26,000

​a) Determine the coefficient of variation.

b) Calculate the​ z-score for a house that sells for ​$295,000

c) Using the Empirical​ Rule, determine the range of prices that includes 95% of the homes around the mean.

d). Using​ Chebychev's Theorem, determine the range of prices that includes at least 88​% of the homes around the mean.

This is where you solve.

A. Determine the coefficient of variation.

CV=  

(round to one decimal place)

B.Calculate the z-score for a house that sells for $295,000

Z=

(round to two decimal places)

C.Using the Empirical​ Rule, determine the range of prices that includes 95% of the homes around the mean.

Upper bound x =$

Lower bound x =$

(round to the nearest dollar as needed)

(an example looks like $436,000)

D.Using​ Chebychev's Theorem, determine the range of prices that includes at least 88​% of the homes around the mean.

Upper bound x =$

Lower bound x=$

(round to the nearest dollar as needed)

(an example looks like $898,000)

(please show all work and round to correct asking decimal places)

.

.

Answer 1