Prices of New Mobile Homes. The U.S. Census Bureau publishes annual price figures for new mobile homes in Manufactured Housing Statistics. The prices of a sample of 250 new mobile homes have roughly a bell-shaped distribution with mean $63.3 thousand and standard deviation $7.9 thousand. a. Fill in the blanks: Approximately 95% of the mobile homes in the sample have prices between $ thousand and $ thousand.b. Fill in the blank: Approximately % of the mobile homes in the sample have prices between $39.6 thousand and $87.0 thousand.c. Approximately howmany mobile homes in the sample have prices between $55.4 thousand and $71.2 thousand?
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
Prices of New Mobile Homes. The U.S. Census Bureau publishes annual price figures for new mobile homes in Manufactured Housing Statistics. The prices of a sample of 250 new mobile homes have roughly a bell-shaped distribution with
a. Fill in the blanks: Approximately 95% of the mobile homes in the sample have prices between $ thousand and $ thousand.
b. Fill in the blank: Approximately % of the mobile homes in the sample have prices between $39.6 thousand and $87.0 thousand.
c. Approximately howmany mobile homes in the sample have prices between $55.4 thousand and $71.2 thousand?
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