Question 1120403: 1.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.
and also the follow up question for that one
2.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! Empirical rule would be 68% between $800 and $1200, which is 1 sd on either side of the mean.
More than 2 sd s would be everything less than $600 and everything more than $1400.
$550 and $1450 would qualify.
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