Statistics
posted by David .
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.

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. 
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.
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