A family moved to Orlando, FL and bought a home. They paid $254,876 for their house. In their neighborhood the mean price of a h

Question

3 years ago

10

A family moved to Orlando, FL and bought a home. They paid $254,876 for their house. In their neighborhood the mean price of a h

ome is $267,985 with a standard deviation of $5,834. Calculate the z-score for the price of their home and indicate if the price they paid for their home usual or unusual?

Mathematics

1 answer:

Fofino [41] · Answer 1 · 2022-01-13T12:17:19+03:00

Answer:

Step-by-step explanation: standard score is equal to sample mean - population mean all over standard deviation.

Z=×-u/sigma. Where sigma is standard deviation. 267985-254876=13109. 13109/5834=2.247. Therefore the standard score is 2.247. The price they paid for the house is usual.