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Math Help - Need help with a basic statistics question

  1. #1
    Gaf
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    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?
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  2. #2
    Senior Member eumyang's Avatar
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    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?
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  3. #3
    Gaf
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    I am confused as to what steps I need to take to figure this out.
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  4. #4
    Master Of Puppets
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    \mu = 155000,\sigma= 15000

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

    Go get em!
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  5. #5
    Gaf
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    Thanks!!!
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