A real estate agent has surveyed houses in several nearby zip codes in an attemp

Question

A real estate agent has surveyed houses in several nearby zip codes in an attempt to put together a comparison for a new property that she would lke to put on the market. surveyed have .-n price of %191,190 with a standard deviation or s65,672. The mean house sue is 1,06 sware ft, with a standard deviation or su square ase 2 decimal paas hy the questions below.) Which is more unusual in this market: a house in that sells for $427,000 or a house with an area of 3,300 square t? 7,000 hasz-score of hile the housle with 3,300square t has a score of The house trat sels for Thus, the house that is more unusual

Explanation / Answer

Z for house that sells for 427000 is ( 427000-191190)/65672 = 3.590

Z for hourse with area of 3300 is (3300-1661)/582= 2.8161

Hence, the house that sells for 427000 is more unusual.

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