The mean value of land and buildings per acre from a sample of farms is $1300, w

Question

The mean value of land and buildings per acre from a sample of farms is $1300, with a standard deviation of $300. The data set has a bell-shaped distribution. Assume the number of farms in the sample is 76. Use the empirical rule to estimate the number of farms whose land and building values per acre are between $700 and $1900 farms. farms (Round to the nearest whole number as needed.) If 25 additional farms were sampled, about how many of these additional farms would you expect to have land and building values between $700 per acre and $1900 per acre? farms out of 25 (Round to the nearest whole number as needed.)

Explanation / Answer

Mean = 1300

Standard deviation = 300

Sample size = 76

a) z(700) = (700 - 1300)/300 = - 2

z(1900) = ( 1900 - 1300)/300 = 2

75% of the data lies
within 2 standard deviations of the mean.

=0.75*76 = 57

b) 0.75 * 25 = 18.75

Next whole number = 19

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