Solution-Percentage of the structures

Percentage of the structures

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Many families in California are using backyard structures for home offices, art studios, and hobby areas as well as for storage. Suppose the mean price for a customized wooden, shingled backyard structure is $3100 with a standard deviation of $1200. Also assume that the prices for these types of structures is approximately bell-shaped (Normal).

a) Between what two prices would you expect to find 95% of the structures?

b) Approximately what percentage of the structures would you expect to cost between $1900 and $4300?

c) The cost of one of my neighbor's structures was $8100. Would you consider this an outlier? Explain.

Reference no: EM131153018

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Percentage of the structures

Reference no: EM131153018

Reference no: EM131153018

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