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 The mean value of land and buildings per acre from a sample of farms is $1200, with a standard deviation of $100. The data set has a bellshaped distribution. Using the...
 kmbkrazy
 9 months ago
 Mathematics
The mean value of land and buildings per acre from a sample of farms is $1200, with a standard deviation of $100. The data set has a bellshaped distribution. Using the empirical rule, determine which of the following farms, whose land and building values per acre are given, are unusual (more than two standard deviations from the mean). Are any of the data values very unusual (more than three standard deviations from the mean)? $1064 $1417 $1373 $856 $1250 $1102

1 Answers
 jamdsjnaid
 9 months ago
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Answer:
The empirical rule states that for a bellshaped distribution, approximately 68% of the data values will fall within one standard deviation of the mean, 95% of the data values will fall within two standard deviations of the mean, and 99.7% of the data values will fall within three standard deviations of the mean.
Using this information, we can calculate the range of values that fall within two standard deviations of the mean for the given data set:
Mean: $1200
Standard deviation: $100
Two standard deviations: $200
Therefore, the range of values that fall within two standard deviations of the mean is $1200  $200 = $1000 to $1200 + $200 = $1400.
With this information, we can determine which of the given data values are unusual (more than two standard deviations from the mean):
$1064 is within two standard deviations of the mean.
$1417 is outside of two standard deviations of the mean.
$1373 is within two standard deviations of the mean.
$856 is outside of two standard deviations of the mean.
$1250 is within two standard deviations of the mean.
$1102 is within two standard deviations of the mean.
Therefore, the data values $1417 and $856 are unusual (more than two standard deviations from the mean).
We can also determine which of the given data values are very unusual (more than three standard deviations from the mean) using the same process. The range of values that fall within three standard deviations of the mean is $1000 to $1600. With this information, we can see that none of the given data values are very unusual (more than three standard deviations from the mean).