## Suppose that prices of a certain model of a new home are normally distributed with a mean of $150,000. Use the 68-95-99.7 rule to find the p Question Suppose that prices of a certain model of a new home are normally distributed with a mean of$150,000. Use the 68-95-99.7 rule to find the percentage of buyers who paid between $147,700 and$152,300 if the standard deviation is $2300. in progress 0 2 hours 2021-10-13T03:02:52+00:00 1 Answer 0 ## Answers ( ) 1. Answer: 68% of buyers paid between$147,700 and $152,300. Step-by-step explanation: We are given that prices of a certain model of a new home are normally distributed with a mean of$150,000.

Use the 68-95-99.7 rule to find the percentage of buyers who paid between $147,700 and$152,300 if the standard deviation is $2300. Let X = prices of a certain model of a new home SO, X ~ Normal( ) The z score probability distribution for normal distribution is given by; Z = ~ N(0,1) where, = population mean price =$150,000 = standard deviation = $2,300 Now, according to 68-95-99.7 rule; Around 68% of the values in a normal distribution lies between and . Around 95% of the values occur between and . Around 99.7% of the values occur between and . So, firstly we will find the z scores for both the values given; Z = = = -1 Z = = = 1 This indicates that we are in the category of between and . SO, this represents that percentage of buyers who paid between$147,700 and \$152,300 is 68%.