##### One more I can't get

 Statistics Tutor: None Selected Time limit: 1 Day

A real estate agent lets the selling price for homes of a particular size in a particular neighborhood be given by X.  She then notes that X~N(175,15), where the units are in thousands of dollars.

What is the 29th percentile for the selling price for homes of this type (in thousands of dollars)?  Round to TWO decimal places.
Jul 3rd, 2015

invNorm(0.29) = -0.5534 .............................. (use a TI calculator to get this value)

So z = -0.5534. Use this to find the raw score x

z = (x-mu)/sigma

-0.5534 = (x - 175)/15

-0.5534*15 = x - 175

-8.301 = x - 175

-8.301 + 175 = x

166.699 = x

x = 166.699

x = 166.70

The 29th percentile for the selling price (in thousands of dollars) is 166.70

Jul 3rd, 2015

How did you get 0.5534?

Jul 3rd, 2015

Hi, as I have mentioned in the above solution, you can find invNorm values using TI calculator.

Use invNorm(0.29,0,1) or invNorm(0.29,1,0) depending on model of your calculator.

Jul 3rd, 2015

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Jul 3rd, 2015
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Jul 3rd, 2015
May 28th, 2017
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