Wednesday

August 20, 2014

August 20, 2014

Posted by **Jennifer** on Tuesday, November 29, 2011 at 12:27am.

I don't understand how to do this problem. I have a test this weekend and want to understand. It won't be the same question, but one similar. Thanks.

- math - Please help me to understand -
**Reiny**, Tuesday, November 29, 2011 at 8:18amI don't know if you are using some kind of chart for the normal distribution or if you have a "fancy" calculator that can handle that.

The method used by calculators varies from model to model, so I cannot describe it

change your 325000 to a z-score

z-score for 325000 = (325000-356000)/64600

= -.4799

If you have a table, find -.48 (the best you can probably do on the chart) to find .3156

So the prob that the house will cost MORE than 325000 is

1 - .3156 or .6844

so number sold at that range is .6844(396) or 271 homes

**Related Questions**

math - Please help me to understand - The average selling price of homes in a ...

math - The average selling price of homes in a certain city is $356,300. Assume ...

Statistics - find the 90% confidence interval for the variance and standard ...

Statistics - Given that x is a normally distributed random variable with a mean ...

Statistics - The average hourly wage of employees in a large nationwide industry...

Statistics - Electricity bills in a certain city have mean $120.08. Assume the ...

Statistics - n order to study the amounts owed to the city council, a city clerk...

Statistics - In 2002, the average price of new homes in a certain suburb was $...

statistics - For a certain group of individuals, the mean hemoglobin level in ...

algebra - At a certain real estate firm,realtors selling homes receive a ...