SOLUTION: A real estate agent lets the selling price for homes of a particular size in a particular neighborhood be given by X. She then notes that X~N(175,15), where the units are in thous
Algebra.Com
Question 978027: A real estate agent lets the selling price for homes of a particular size in a particular neighborhood be given by X. She then notes that X~N(175,15), where the units are in thousands of dollars.
What is the 29th percentile for the selling price for homes of this type (in thousands of dollars)? Round to TWO decimal places.
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Use a TI calculator to get
invNorm(0.29) = -0.5534
So z = -0.5534. Use this to find the raw score x
z = (x-mu)/sigma
-0.5534 = (x - 175)/15
-0.5534*15 = x - 175
-8.301 = x - 175
-8.301 + 175 = x
166.699 = x
x = 166.699
x = 166.70
The 29th percentile for the selling price (in thousands of dollars) is 166.70
RELATED QUESTIONS
Question text
A real estate agent lets the selling price for homes of a particular size... (answered by rothauserc)
A real estate agent lets the selling price for homes of a particular size in a... (answered by solver91311)
A real estate agent lets the selling price for homes of a particular size in a... (answered by Fombitz)
A real estate agent is paid a 3.4% commission when selling a house. On one particular... (answered by Cromlix)
For selling a house, a real-estate agent receives 6% of the selling price. What was the... (answered by rfer)
Iwas Realty is a real estate company selling homes in the Vancouver, British Columbia.... (answered by Boreal,ewatrrr)
A certain real-estate agent receives $6 for every &100 of a houses selling price. How... (answered by edjones)
Patrick is selling his house through a real estate agent whose commission is 6% of the... (answered by rfer)
Jamie sold her house for x dollars. The real estate agent received a 5% commission and... (answered by josmiceli)