# Need help with a basic statistics question

• July 4th 2010, 12:23 PM
Gaf
Need help with a basic statistics question
The mean price of new homes from a sample of houses is 155,000 with a standard deviation of 15,000. The data is bell shaped distribution . Between what two prices do 95% of the houses fall?
• July 4th 2010, 01:50 PM
eumyang
Do you know the significance of 95%? If you have sample data that is normally distributed than 95% of the data would be within two standard deviations from the mean. Can you figure out the prices now?
• July 4th 2010, 02:11 PM
Gaf
I am confused as to what steps I need to take to figure this out.
• July 4th 2010, 03:01 PM
pickslides
$\mu = 155000,\sigma= 15000$

95% of values will fall between $\mu - 2\sigma

Go get em!
• July 4th 2010, 04:27 PM
Gaf
Thanks!!!