The mean value of land and buildings per acre from a sample of farms is $1200, w

Question

The mean value of land and buildings per acre from a sample of farms is $1200, with a standard deviation of $300. 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)? $1386 $1892 $727 $210 $1540 $787 Which of the farms are unusual (more than two standard deviations from the mean)? Select all that apply A. $787 B. $727 C. $1892

Explanation / Answer

2 SD away:

1200 - 2 * 300 = 600

1200 + 2 * 300 = 1800

So, if value is greater than 1800 or less than 600, it will be unusual.

So, 1892 and 210 are unusual.

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