A real estate company is interested in the ages of home buyers. They examined th

Question

A real estate company is interested in the ages of home buyers. They examined the ages of thousands of home buyers and found that the mean age was years old. Suppose that this measure is valid for the population of all home buyers. Complete the following statements about the distribution of all ages of home buyers. (a) According to Chebyshev's theorem, at least 56 75 84 89 of the home buyers' ages lie within 2.5 standard deviations of the mean, years. (b) Suppose that the distribution is bell-shaped. If approximately 68% of the home buyers' ages lie between 39 years and 59 years, then the approximate value of the standard deviation for the distribution, according to the empirical rule, is . ClearUndoHelp

Explanation / Answer

a)

If k = 2.5 standard deviations, then

1 - 1/k^2 = 1 - 1/2.5^2 = 0.84 [ANSWER]

****************

b)

39 and 59 are both 1 standard deviation from the mean.

The mean is eactly midway them, 49.

Hence,

standard deviation = 59 - 49 = 10 [ANSWER]

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