Question

the average sale price of a new home in the United States for a rwvenct Year was 248,300 find the range of values in which at least 88.89% of the sale price lies with a standard deviation of 43800.Round k to the nearest whole numbee.

Answer 1

Given that ,

mean = = 248300

standard deviation = = 43800

The z - distribution of the 88.89% is

P( Z z ) = 88.89%

= 1 - P( Z z) = 0.8899

= P ( Z z) = 1 - 0.8899

= ( Z z) = 0.1101

= ( Z -1.226 ) = 0.1101

z = -1.226

Using z-score formula,

x = z * +

x = -1.226 * 43800 +248300

x = 194601.2

Answer = x = 194601