posted by Jennifer .
The average selling price of homes in a certain city is $356,300. Assume the variable is normally distributed with a standard deviation of $64,600. If 396 homes are for sale, how many homes will sell for more than $325,000? (Round up to the next whole number.)
Z = (score-mean)/SD
Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion related to that Z score. Multiply by 396.
Did I figure this right?
score-mean is 356,300/64,600(SD)= 5.515
My book says that any z values beyond 3.25 us a=0.500.
so I multiplied 0.500 by 396 = 198
I this correct?