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Sagot :
Answer:
2.35%
Step-by-step explanation:
Firstly, we calculate the z-score of each
we have this as;
z-score = (x - mean)/SD
from the question, mean is $1,500 while standard deviation is $250
So for each;
z-score = (750-1500)/250 = -750/250 = -3
z-score = (1000-1500)/250 = -500/250 = -2
Simply put, we want to calculate the percentage of prices between three standard deviations below the mean and two standard deviations below the mean
We can calculate this by using the empirical rule chart;
By looking up the this, the percentage of values between 3 SD below the mean and 2 SD below the mean is 2.35%
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