Normal distribution yield a good approximation

Assignment Help Basic Statistics

Reference no: EM1317064

Refer to Real Estate data, which report information on homes sold in the Denver, Colorado, area during the last year.

a. The mean selling price (in $ thousands) of the homes was computed earlier to be $221.10, with a standard deviation of $47.11. Use the normal distribution to estimate the percent of homes selling for more than $280.0. Compare this to the actual results. Does the normal distribution yield a good approximation of the actual results?

b. The mean distance of from the center of the city is 14.629 miles with a standard deviation of 4.874 miles. Use the normal distribution to estimate the number of homes 18 or more miles but less than 22 miles from the center of the city. Compare this to the actual results. Does the normal distribution yield a good approximation of the actual results?

Reference no: EM1317064

Questions Cloud

Commercialization of business : Whenever it comes time to commercialize an invention, specify the options that are available to an inventor in order to navigate the business side of commercialization.

True or false questions on concepts of utility : If the price of a good decreases, the substitution effect shows the increase in the quantity of the good demanded, holding income constant.

Find the concentration and ph solution : Find the concentration and pH solution - What is the pH of a solution of 0.65 M acid and 0.51 M of its conjugate base if the pKa = 5.30?

Find the remainder and quotient : Find the remainder and quotient

Normal distribution yield a good approximation : Does the normal distribution yield a good approximation of the actual results?

Research questions with two way anova test : Using variables below, (1) mention all research questions that would be replied with a Two Way ANOVA test, (2) make null hypotheses for these questions.

What is the ph of a solution : Find the pH solution & Hydronium ion concentration and What is the pH of a solution of 0.17 M acid and 0.81 M of its conjugate base if the pKa = 8.62?

Network cable planning : The company is very concerned with the network errors. State the advice you would provide regarding the design of the building and network cable planning which would help in order to decrease the network errors.

Price elasticity for resort and pricing decision : You have been hired to work with a resort owner in Northern Minnesota. This resort owner runs a very small operation catering to mostly people who like to fish.

User Account

All Pages