Use the empirical Rule The mean value of land and buildings per acre from a sample of farms is $1000, with a standard deviation off $200. The data set has a bell-shaped distribution.Assume that the number of farms in the sample is 75. a) Estimate the percent of farms whose land and building values per acre are between $800 and $1200. b) Between what two values about 95% of the data lies? c) If 25 additional farms were sampled, about how many of these farms would you expect to have land and building values between $800 per acre and $1200
Use the empirical Rule The mean value of land and buildings per acre from a sample of farms is $1000, with a standard deviation off $200. The data set has a bell-shaped distribution.Assume that the number of farms in the sample is 75. a) Estimate the percent of farms whose land and building values per acre are between $800 and $1200. b) Between what two values about 95% of the data lies? c) If 25 additional farms were sampled, about how many of these farms would you expect to have land and building values between $800 per acre and $1200
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Transcribed Image Text:Use the empirical Rule
The mean value of land and buildings per acre from a sample of farms is $1000,
with a standard deviation off $200. The data set has a bell-shaped
distribution.Assume that the number of farms in the sample is 75.
a) Estimate the percent of farms whose land and building values per acre are
between $800 and $1200.
b) Between what two values about 95% of the data lies
c) If 25 additional farms were sampled, about how many of these farms would
you expect to have land and building values between $800 per acre and $1200
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