past, the value of houses a local realtor has sold is normally distributed with a mean of $259,000 with a standard deviation of $54,000. How much does a house have to sell for so that the house is in the top 10% of highest selling houses for the realtor? (please express your answer in $'

past, the value of houses a local realtor has sold is normally distributed with a mean of $259,000 with a standard deviation of $54,000. How much does a house have to sell for so that the house is in the top 10% of highest selling houses for the realtor? (please express your answer in $'

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.5: Comparing Sets Of Data

Problem 2GP

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Question

In the past, the value of houses a local realtor has sold is normally distributed with a mean of $259,000 with a standard deviation of $54,000. How much does a house have to sell for so that the house is in the top 10% of highest selling houses for the realtor? (please express your answer in $'s)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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