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 th
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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 th
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Question 977459:
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:
P(Y=2)=Answer
According to a z-score/percentile table, the z-score that corresponds to the 29th percentile is -0.553. That means the 29th percentile is 0.553 standard deviations below the mean, in other words 175 minus 0.553(15).
John
My calculator said it, I believe it, that settles it
