Question

alekscgi/x/sl.exe/10_u-IgNsikr7j8P3JH-IBxu5JdZ3xPuEkyCddiBj_BgYfWoGt3qg81rYOB10kKJv4 Elementary Statistics: A Step-By-Step Approach, 10th Ed. |MATH 6.2 Application of the Normal Distribution nect" Hosted by ALEKS Corp. Previous 1 2 4 5 6 7 8 9 10 Next Question 8 of 11 (1 point) 6.2 Section Exercise 20 If the average price of a new one-family home is $246,300 with a standard deviation of $15,000, find the minimum and maximum prices of the houses that a contractor will build to satisfy the middle 80% of the market. Assume that the variable is normally distributed. Round-value calculations to 2 decimal places and final answers to the nearest dollar. Source: New York Times Almanac. Minimum price: $ Maximum price: Thonba Roman tv AW

Answer 1

Average (1) = $246300 6). $ 15000 stel. deviation 0.80 o.10 0.10 aze Zo P(ZZ ZU ) 0.90 using 2-table 2= 1.988 Similarly P(Z <32) - 0.12 2= 1.882 2u - Xy-u nu = zu tle = 1.882 x 15000 + 246300 Yo = 2 65 530 ( maximum ?L- XL-ee 227oto 12 XL = -1.882 x 15000 +2463000 minimium value = $22 to to