Applied Managerial Statistics HERNANDEZ Quiz: Week 3: MyStatLab Quiz This Questi

Question

Applied Managerial Statistics HERNANDEZ Quiz: Week 3: MyStatLab Quiz This Question: 3 pts Terry & 1 9/17/18 532 PM Time This Quiz: 60 pts The mean value of land and buildings per acre from a sample of farms is $1800, with a standard determine which of the following farms, whose land and building values per acre are given, are unusual (more than two standard deviations trom the mean) Are any of the data valuers of $300. The data set has a beil-shaped distribution Using the empirical nule y unusual (more than three standard deviations from the mean)? $2344 $2439 $2072 $606 $1694 $1278 A $2344 B. $606 C. $2072 D. $1278 E. $1694 OF $2439 Which of the farms are very unusual (more than three standard deviations from the mean)? Select al that apply OA. $2344 B. $2072 lick to select your answer(s)

Explanation / Answer

mean = 1800
sd = 300

2*sigma = 600
1800 - 600 = 1200
1800 + 600 = 2400

Values 606 and 2439 is unusual

3*sigma = 900
1800 - 900 = 900
1800 + 900 = 2700

Value 606 is very unusual

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