Using the Empirical Rule, it is found that:
- a) Approximately 99.7% of the amounts are between $35.26 and $51.88.
- b) Approximately 95% of the amounts are between $38.03 and $49.11.
- c) Approximately 68% of the amounts fall between $40.73 and $46.27.
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The Empirical Rule states that, in a <em>bell-shaped </em>distribution:
- 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.
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Item a:
![43.5 - 3(2.77) = 35.26](https://tex.z-dn.net/?f=43.5%20-%203%282.77%29%20%3D%2035.26)
![43.5 + 3(2.77) = 51.88](https://tex.z-dn.net/?f=43.5%20%2B%203%282.77%29%20%3D%2051.88)
Within <em>3 standard deviations of the mean</em>, thus, approximately 99.7%.
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Item b:
![43.5 - 2(2.77) = 38.03](https://tex.z-dn.net/?f=43.5%20-%202%282.77%29%20%3D%2038.03)
![43.5 + 2(2.77) = 49.11](https://tex.z-dn.net/?f=43.5%20%2B%202%282.77%29%20%3D%2049.11)
Within 2<em> standard deviations of the mean</em>, thus, approximately 95%.
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Item c:
- 68% is within 1 standard deviation of the mean, so:
![43.5 - 2.77 = 40.73](https://tex.z-dn.net/?f=43.5%20-%202.77%20%3D%2040.73)
![43.5 + 2.77 = 46.27](https://tex.z-dn.net/?f=43.5%20%2B%202.77%20%3D%2046.27)
Approximately 68% of the amounts fall between $40.73 and $46.27.
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