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?

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- Jul 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?

- Jul 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? - Jul 4th 2010, 01:11 PMGaf
I am confused as to what steps I need to take to figure this out.

- Jul 4th 2010, 02:01 PMpickslides
$\displaystyle \mu = 155000,\sigma= 15000$

95% of values will fall between $\displaystyle \mu - 2\sigma <X< \mu + 2\sigma$

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