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April 27, 2015

Homework Help: statistics

Posted by Ronnie on Friday, May 16, 2008 at 2:42pm.

A maker has the opportunity to purchase several acres of land that is divided up into several lots for building single-family homes.

It is known that the average sale price of all of the lots is $80,000 and the standard deviation of the sale price is $12,000. What can you say about the percentage of lots that have selling prices between $56,000 and $104,000?
Choose one answer.

a)at most 25% of the selling prices lie in this interval
b.) at least 75% of the selling prices lie in this interval
c) approximately 99.7% of the selling prices lie in this interval
d) none of these

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