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 $200. The data set has a bell-shaped 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)? $1281 $2168 $1323 $868 $1563 $1659 Which of the farms are unusual (more than two standard deviations from the mean)? Select all that apply. A. $1323 B. $1563 C. $2168 [ ] D. $1659 E. $1281 F, $868 Which of the farms are very unusual (more than three standard deviations from the mean)? Select all that apply. A. $1281 B. $868 C. $1659 [ ] D. $2168 E. $1563 F, $1323 G. None of the data values are very unusual

Explanation / Answer

Range of usual values = (1600 - 2*200, 1600 + 2*200) = (1200, 2000)

Range of very usual values = (1600 - 3*200, 1600 + 3*200) = (1000, 2200)

Hence,

Unusual values: 868, 2168

Very unusual values: 868

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