A family moved to Orlando, FL and bought a home. They paid $254,876 for their house. In their neighborhood the mean price of a home is $267,985 with a standard deviation of $5,834. Calculate the z-score for the price of their home and indicate if the price they paid for their home usual or unusual?

Question

Anastasia Tran

Mathematics

10 August, 23:27

A family moved to Orlando, FL and bought a home. They paid $254,876 for their house. In their neighborhood the mean price of a home is $267,985 with a standard deviation of $5,834. Calculate the z-score for the price of their home and indicate if the price they paid for their home usual or unusual?

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Kayden · Answer 1

Step-by-step explanation: standard score is equal to sample mean - population mean all over standard deviation.

Z=*-u/sigma. Where sigma is standard deviation. 267985-254876=13109. 13109/5834=2.247. Therefore the standard score is 2.247. The price they paid for the house is usual.