Question 251672: You know that houses in your school district sell for a mean of $350,000 with a standard deviation of $50,000. Assume they follow a normal distribution. You are looking for a new home in your school district, and want to spend between $280,000 and $340,000. What percentage of homes are within your budget?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! You know that houses in your school district sell for a mean of $350,000 with a standard deviation of $50,000. Assume they follow a normal distribution. You are looking for a new home in your school district, and want to spend between $280,000 and $340,000. What percentage of homes are within your budget?
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Find the z-score of 280000 and 340000
The P(280,000< x < 340000) = P(z is between those z-scores you found)
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I got Prob = 0.34 using a TI calculator and the command
normalcdf(280000,340000,350000,50000).
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Cheers,
Stan H.
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