document.write( "Question 1205491: In the past, the value of houses a local realtor has sold is normally distributed with a mean of $256,000 with a standard deviation of $60,000. How much does a house have to sell for so that the house is in the bottom 20% of lowest selling houses for the realtor? \n" ); document.write( "

Algebra.Com's Answer #842336 by ikleyn(53266) $\"\"$ $\"About$

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\n" ); document.write( "In the past, the value of houses a local realtor has sold is normally distributed with a mean of $256,000
\n" ); document.write( "with a standard deviation of $60,000. How much does a house have to sell for so that the house is
\n" ); document.write( "in the bottom 20% of lowest selling houses for the realtor?
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document.write( "They want you find a raw score x such that the area under the specified normal curve on the left\r\n" );
document.write( "of this x-score be 20%, or 0.2.\r\n" );
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document.write( "For it, you can use your regular hand calculator TI-83/84 and its standard function invNorm.\r\n" );
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document.write( "The format for this function is  x = invNorm(area, mean, SD).\r\n" );
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document.write( "So, you write  x = invNorm(0.2, 256000, 60000),\r\n" );
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document.write( "and you get the  ANSWER  x = 205503.\r\n" );
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document.write( "     Alternatively, you may use free of charge online calculator\r\n" );
document.write( "     https://onlinestatbook.com/2/calculators/inverse_normal_dist.html\r\n" );
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document.write( "     This calculator has simple and intuitively clear interface,\r\n" );
document.write( "     so even a beginner student can use it without any problems and \r\n" );
document.write( "     without any additional explanations.\r\n" );
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document.write( "     In opposite, this calculator itself is a perfect teacher,\r\n" );
document.write( "     and it quickly will teach you how to make such calculations with no errors\r\n" );
document.write( "     and with full understanding of the process.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved.\r
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