SOLUTION: 6.The mean value of land and buildings per acre from a population of farms is $1000, with a standard deviation of $200. The data set is a normal distribution, estimate the percent

Question 1120865: 6.The mean value of land and buildings per acre from a population of farms is $1000, with a standard deviation of $200. The data set is a normal distribution, estimate the percent of farms whose land and building values per acre are between $800 and $1200.

7. Using the mean and standard deviation from #6 and the Empirical Rule, determine which of the following farms, whose land and building values per acre are given, are outliers(more than 2 standard deviations from the mean).
$1250, $1375, $1125, $1450, $550, $800

Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
For 6, that is the per cent between sd -1 and sd +1, and that is 68.26%. It is about 2/3s.
For 7, two sd s from the mean is +/- $400, so anything below $600 or above $1400 would be an outlier.
$550 and $1450.

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