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Math Help - assistance with calculation z-score

  1. #1
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    assistance with calculation z-score

    Hello guys,
    I have the answer here and need explanation on coming to terms with it. The question,

    5000 apartments sold in a certain area and the mean price is $459,000 and the standard deviation is $76000. A particular apartment has a z-score of 3.78. What did it sell for? The formula to calculate z-score is (x -mean) / standard deviation. The answer that I have from the text book is $459,000+3.78*76,000=$746,280 but why?

    I've been punching in the numbers into the calculator and do not get $746,280.

    Any help is appreciated.

    Regards
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  2. #2
    MHF Contributor
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    Re: assistance with calculation z-score

    Hey schia.

    Hint: Remember that Z = (X-mean)/sigma and we have to solve for X. Given Z = 3.78, and given mean = $459,000 and sigma = $76,000, can you re-arrange for X?
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