Elementary Statistics: A Step-by-Step Approach with Formula Card 9th Edition

$149300-343300$ dollars
Chebyshev’s theorem The proportion of values from a data set that will fall within k standard deviations of the mean will be at least $1−1/k^2$, where k is a number greater than 1 (k is not necessarily an integer). 37. Sale Price of Homes The average sale price of new one-family houses in the United States for 2003 was $246,300. Find the range of values in which at least 75% of the sale prices will lie if the standard deviation is$48,500. Let $1-1/k^2=0.75$ we have $k=2$ and $2\times48,500=97000$. The price range would be $149300-343300$ dollars