The mean value of land and buildings per acre from a sample of farms is $13001300, with a standard deviation of $300300. The data set has a bell-shaped distribution. Assume the number of farms in the sample is 7575.
(a) use the empirical rule to estimate the number of farms whose land and building values per acre are between $1000 and $1600.
(b) If 24 additional farms were sampled, about how many of these additional farms would you expect to have land and building values between $1000 per acre and $1600 per acre?
6 years ago
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