Posted by **David** on Tuesday, June 11, 2013 at 1:44pm.

1. The mean monthly mortgage paid by all home owners in a town is $2365 with a standard deviation of $340. a) Using Chebyshev’s theorem, find at least what percentage of all home owners in this town pay a monthly mortgage of (i) $1685 to $3045 & (ii) $1345 to $3385

b) Using Chebyshev’s theorem, find the interval that contains the monthly mortgage payments of at least 84% of all home owners in this town.

- Statistics -
**MathGuru**, Tuesday, June 11, 2013 at 6:59pm
Chebyshev's theorem says:

1. Within two standard deviations of the mean, you will find at least 75% of the data.

2. Within three standard deviations of the mean, you will find at least 89% of the data.

Part (i) is within two standard deviations of the mean.

Part (ii) is within three standard deviations of the mean.

- Statistics -
**MathGuru**, Tuesday, June 11, 2013 at 7:06pm
There is a formula you can use to find part b).

1 - (1/k^2) = .84 (or 84%)

k = 2.5 (standard deviations)

Therefore, find the amounts within 2.5 standard deviations of the mean. Remember that one standard deviation is equal to $340.

I'll let you take it from here.

## Answer this Question

## Related Questions

- statistics - e Chebyshev’s theorem to find what percent of the values will fall ...
- math - Hi, I am trying to solve a problem using Chebyshev's Theorem. The ...
- statistics - I.use the chebyshev's theorem to find out what percentage of the ...
- statistic - Chebyshev's thereon- the author's generac produces voltage amounts ...
- Elementary Statistics - Heights of women have a bell-shaped distribution with a ...
- statistcs - The authors generac generator produces voltage amounts with a mean ...
- statistics - the company is concerned that a simple random sample of 2000 owners...
- use chebyshev's theorem to find what percent of th - use chebyshev's theorem to ...
- use chebyshev's theorem to find what percent of th - use chebyshev's theorem to ...
- statistics - Heights of women have a bell-shaped distribution with a mean of 158...

More Related Questions