SOLUTION: The mean value of land and buildings per acre from a sample of farms is $1700, with a standard deviation of $100. The data set has a bell-shaped distribution. Assume the number of

Question 1041959: The mean value of land and buildings per acre from a sample of farms is $1700, with a standard deviation of $100. The data set has a bell-shaped distribution. Assume the number of farms in the sample is 77.
A) Use the empirical rule to estimate the number of farms whose land and building value per acre are between $1600 and $1800?
B) If 25 additional farms were sampled, about how many of these additional farms would you expect to have land and building values between $1600 per acre and $1800 per acre?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The mean value of land and buildings per acre from a sample of farms is $1700, with a standard deviation of $100. The data set has a bell-shaped distribution. Assume the number of farms in the sample is 77.
A) Use the empirical rule to estimate the number of farms whose land and building value per acre are between $1600 and $1800?
z(1600) = (1600-1700)/(100) = -1
z(1800) = (1800-1700) = +1
p(1600-1800) = p(-1< z < +1) = 0.6827
Ans:: 0.6827*77 = 53 when rounded up
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B) If 25 additional farms were sampled, about how many of these additional farms would you expect to have land and building values between $1600 per acre and $1800 per acre?
Ans: 0.6827*25 = 17
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Cheers,
Stan H.
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