the mean value of land and buildings per acre from a sample The mean value of la

Question

the mean value of land and buildings per acre from a sample The mean value of land and buildings per acre from a sample of farms is $1600, with a standard deviation of $300. . The data set has a bell-shaped distribution. Using the empirical rule, determine which of the following farms, whose land and building values per acre are given, are unusual (more than two standard deviations from the mean). Are any of the data values very unusual (more than three standard deviations from the mean)? $1190 $2452 $1509 $440 $1412 $1333 Which of the farms are unusual (more than two standard deviations from the mean)? Select alil hat apply A. $1190 B. $1509 c. s2452 D, $1412 E. $1333 F, $440 Which of the farms are very unusual (more than three standard deviations from the mean)? Select all that apply. A. S440 B. S2452 C. $1333 D. S1190 E, $1412 F. $1509 G. None of the data values are very unusual Click to select your answer(s).

Explanation / Answer

Given: µ = 1600, = 300

(a) + 2 = 1600 + (2*300) = 2200 and - 2 = 1600 - (2*300) = 1000 and

So we are saying anything greater than 2200 and anything lesser than 1000 is unusual i.e $2452 and $440 (Options A and E)

(b) + 3 = 1600 + (3*300) = 2500 and - 3 = 1600 - (3*300) = 700.

So we are saying anything greater than 2500 and anything lesser than 700 is very unusual i,e $440 (Option A )

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