Using the Empirical Rule, it is found that 49.85% of buyers paid between $150,000 and $154,800.
<h3>What does the Empirical Rule state?</h3>
It states that, for a normally distributed random variable:
- Approximately 68% of the measures are within 1 standard deviation of the mean.
- Approximately 95% of the measures are within 2 standard deviations of the mean.
- Approximately 99.7% of the measures are within 3 standard deviations of the mean.
Considering the given mean and standard deviation, the interval between $150,000 and $154,800 corresponds to the interval between the mean and 3 standard deviations above the mean.
The normal distribution is symmetric(50% above the mean, 50% below), hence the percentage corresponding to this interval is:
P = 0.5 x 99.7% = 49.85%.
More can be learned about the Empirical Rule at brainly.com/question/24537145
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