Sunday

December 21, 2014

December 21, 2014

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

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 6:59pmChebyshev'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 7:06pmThere 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 ...

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 ...

statistic - Chebyshev's thereon- the author's generac produces voltage amounts ...

Data Management, Math - Chebyshev's Theorem states that withing 2 standard ...

Elementary Statistics - Heights of women have a bell-shaped distribution with a ...

statistics - I.use the chebyshev's theorem to find out what percentage of the ...

statistcs - The authors generac generator produces voltage amounts with a mean ...

Math-Statistics - I. Use Chebyshev’s theorem to find what percent of the values ...