Suppose the distribution of home sales prices has mean k300, 000 and standard deviation of k50, 000. (i) Determine the price range in which at least 75% of the houses sold. (ii) Determine the minimum percentage of the houses that should sell for prices between k150, 000 and k450, 000. (iii) Determine the minimum percentage of the houses that should sell for prices between k170, 000 and k430, 000.

Suppose the distribution of home sales prices has mean k300, 000 and standard deviation of k50, 000. (i) Determine the price range in which at least 75% of the houses sold. (ii) Determine the minimum percentage of the houses that should sell for prices between k150, 000 and k450, 000. (iii) Determine the minimum percentage of the houses that should sell for prices between k170, 000 and k430, 000.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section10.5: Introduction To @risk

Problem 19P: In Problem 12 of the previous section, suppose that the demand for cars is normally distributed with...

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