Answer
$149300-343300$ dollars
Work Step by Step
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
