document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=465418>Question 465418</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If the average price of a new one-family home is $246,300 with a standard deviation of $15,000, find the minimum and maximum prices of the houses that a contractor will build to satisfy the middle 80% of the market.Assume the variable is normally distributed. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #318930 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=318930\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If the average price of a new one-family home is $246,300 with a standard deviation of $15,000, find the minimum and maximum prices of the houses that a contractor will build to satisfy the middle 80% of the market. Assume the variable is normally distributed.<BR>\n" );
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document.write( "Find the z-values that bracket 80% around the mean.<BR>\n" );
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document.write( "Left tail of 10% = -1.2816<BR>\n" );
document.write( "Right tail of 10% = +1.2816<BR>\n" );
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document.write( "minimum price = -1.2816*15000+ 246,300 = $227,076.73\r<BR>\n" );
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document.write( "maximum price = +1.2816*15000 + 246,300 = $265,524.00<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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