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?

Printable View

- July 4th 2010, 11:23 AMGafNeed 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, 12:50 PMeumyang
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, 01:11 PMGaf
I am confused as to what steps I need to take to figure this out.

- July 4th 2010, 02:01 PMpickslides

95% of values will fall between

Go get em! - July 4th 2010, 03:27 PMGaf
Thanks!!!