Business
Engineering
Math
Science
Social ScienceAssume the average selling price for houses in a certain county is $308,000 with a standard deviation of $57, 000. Using Chebychev's Theorem, determine the range of prices that includes at least 91% of the homes around the mean.
Assume the average selling price for houses in a certain county is $308,000 with a standard deviation of $57, 000. Using Chebychev's Theorem, determine the range of prices that includes at least 91% of the homes around the mean.
Expert Answer
Chebychev’s Theorem tells that how much percentage of your data values lies within certain no. of standard deviation of the mean.
Also there is a formula by which we can calculate at least percentage that lies of the mean
Now using the above formula we can calculate the how much standard deviation of the mean our 91% range lies.
After doing Calculation, We got that at least 91% of the houses lies within 3.334 standard deviation of the mean.
Math
Statistics
Related Statistics Q&A
Find answers to questions asked by student like you
Show more Q&A addQ: Listed below are brain volumes, measured in cubic centimeters, of twins at birth. Use a 5% significa...
A: Solution:Null and alternative hypotheses:Null hypothesis: µ1 − µ2 = 0 (equivalently µ1 = µ2)Alternat...
Q: Previously, you studied linear combinations of independent random variables. What happens if the var...
A: Hey, since there are multiple subpart questions posted, we will answer first three subparts. If you ...
Q: Please answer the whole question (2) Let x be the age of a licensed driver in years. Let y be the p...
A: (a) Scatter diagram of the data:The scatter diagram for the given data that is obtained using EXCEL ...
Q: Using the table below, determine the critical value or values for a hypothesis test for a proportion...
A: It is provided that the test is right tailed and the significance level is 1%.So, the critical value...
Q: A university dean of students wishes to estimate the average number of hours students wish to spend ...
A: The formula for the sample size is as follows:
Q: Over the past several months, an adult patient has been treated for tetany (severe muscle spasms). T...
A: In this question, we have the patients calcium reading, using that we have to find the Mean, Standar...
Q: When a researcher rejects a null hypothesis and he should have reject it what can of error has resea...
A: Hypothesis:Hypothesis is an assumption about the parameter of the population which will be made on t...
Q: Construct a probability distribution for the data and draw a graph for the distribution. Find the m...
A: The probability distribution is given by:
Q: given that the sample mean=105, pop standard deviation=27, n=44, a=0.01 what is the critical s-score
A: Note: In this question it has mentioned that we have to find the s – score but it seems that it is a...
