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Social ScienceA constructor decided to build homes that will include the middle 80% of the market. If the average size of the homes built is 1810 square feet, find the maximum and minimum size of the homes the constructor should build. Assume that the standard deviation is 92 square feet and the variable is normally distributed.
A constructor decided to build homes that will include the middle 80% of the market. If the average size of the homes built is 1810 square feet, find the maximum and minimum size of the homes the constructor should build. Assume that the standard deviation is 92 square feet and the variable is normally distributed.
Expert Answer
The middle 80% is that 40% to the right of the mean and the 40% to the left of the mean.
Hence, the upper limit by using Excel function =Norm.S.INV(0.90) is 1.2816 and the...
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Махітит — и + zo = 1,810+1.2816(92) 1,810+117.9072 1,927.9072 Мinimum %3 и — zo 1,810-1.2816(92) = 1,810-117.9072 1,692.0928
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