2.4.33 The mean value of land and buildings per acre from a sample of farms is $

Question

2.4.33 The mean value of land and buildings per acre from a sample of farms is $1400, with a standard deviation of $300. The data set has a bell s 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)? $1134 $2198 $1377 $420 $1770 $1185 Which of the farms are unusual (more than two standard deviations from the mean)? Select all that apply IA, $420 B. S1377 C. $1134 D. $1185 E. S1770 F, $2198 to select your answer(s) and then click Check Answer. Clear All

Explanation / Answer

mean = 1400
std. dev. = 300

+/- 2*sigma = +/- 2*300 = +/-600

A) 1400 - 420 = 980 which is greater than 2 sigma level, hence unusual farm

B) 1400 - 1377 = 23 which is less than 2 sigma level, hence not unusual farm

C) 1400 - 1134 = 266 which is less than 2 sigma level, hence not unusual farm

D) 1400 - 1185 = 215 which is less than 2 sigma level, hence not unusual farm

E) 1400 - 1770 = -330 (i.e. 330) which is less than 2 sigma level, hence not unusual farm

F) 1400 - 2198 = -798 (i.e. 798) which is greater than 2 sigma level, hence unusual farm

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