The minimum percentage of recently sold homes with prices between $197,650 and $242,350 is 88.9%.
<h3>What is Mean ?</h3>
Mean is the ratio of the sum of all the data points to the number of data points.
It is given that
mean of $220,000 with a standard deviation of $7450.
The range is given , let the range is represented by x - --y
It is given that x = 197650 and y = 242350
Let the number of homes sold is k
To determine the value of k
upper level = (y-mean)/standard deviation = (242350-220000)/7450 = 3
lower level = (mean-x)/standard deviation = (220000-197650)/7450 = 3
probability = 1-(1/k²)
k= 3
= 1 - (1/3^2)
= 1 - 1/9
= 0.889 or 88.9%
So, the minimum percentage of recently sold homes with prices between $197,650 and $242,350 is 88.9%.
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