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Answer:
The minimum percentage of recently sold homes with prices between $197,200 and $232,800 is 75%.
Step-by-step explanation:
Chebyshev Theorem
The Chebyshev Theorem can also be applied to non-normal distribution. It states that:
At least 75% of the measures are within 2 standard deviations of the mean.
At least 89% of the measures are within 3 standard deviations of the mean.
An in general terms, the percentage of measures within k standard deviations of the mean is given by .
In this question:
Mean of $215,000, standard deviation of $8900.
What is the minimum percentage of recently sold homes with prices between $197,200 and $232,800?
215000 - 2*8900 = 197200
215000 + 2*8900 = 232800
Within 2 standard deviations of the mean, so:
The minimum percentage of recently sold homes with prices between $197,200 and $232,800 is 75%.
Step 1. Solve both inequalities for 
:
Step 2. To check a point in the solution of the given system of inequalities, look for the intercepts of the lines
and 
:
(1)
(2)
Replace (1) in (2):
Solve for
:
(3)
Replace (3) in (1):
We can conclude that the point (-2,3) is in the solution of the system if <span>inequalities</span>; also any point inside the dark shaded area of the graph of the system of inequalities is also a solution of the system.
Step 2. To check a point in the solution of the given system of inequalities, look for the intercepts of the lines
Replace (1) in (2):
Solve for
Replace (3) in (1):
We can conclude that the point (-2,3) is in the solution of the system if <span>inequalities</span>; also any point inside the dark shaded area of the graph of the system of inequalities is also a solution of the system.
Answer:
a. Fred's margin of error is larger than Ted's.
Step-by-step explanation:
Margin of error of a confidence interval:
In which z is related to the confidence level(the higher the confidence level the larger the value of z) is the standard deviation of the population and n is the size of the sample.
From this, we have that:
A higher confidence level leads to a larger margin of error.
A larger sample size leads to a smaller margin of error.
In this question:
Same confidence level.
Fred's sample is smaller, so his margin of error will be larger.
The correct answer is given by option a.