the mean value of land and buildings per acre from a sample of farms is $1600, w

Question

the mean value of land and buildings per acre from a sample of farms is $1600, with a standard deviation of $100. Assume the number of farms in the sample is 70. (a) use the empirical rule to eat the number of farms whose land and building values per acre are between $1400 and $1800. there is a (b) also but I can't see it the mean value of land and buildings per acre from a sample of farms is $1600, with a standard deviation of $100. Assume the number of farms in the sample is 70. (a) use the empirical rule to eat the number of farms whose land and building values per acre are between $1400 and $1800. there is a (b) also but I can't see it the mean value of land and buildings per acre from a sample of farms is $1600, with a standard deviation of $100. Assume the number of farms in the sample is 70. (a) use the empirical rule to eat the number of farms whose land and building values per acre are between $1400 and $1800. there is a (b) also but I can't see it

Explanation / Answer

Mean = 1600

Standard deviation = 100

n = 70

P (1400 < x < 1800)

Mean – 2* Standard deviation = 1600 – (2*100) = 1400

Mean + 2* Standard deviation = 1600 + (2*100) = 1800

According to empirical rule we can conclude that between mean and 2 standard deviations 95% of the data will lie.

The required number is = 70 * 0.95 = 66.5 ~ 67

Answer: 67

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