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

Thank you for the opportunity to help you with your question!

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


Please let me know if you need any clarification. I'm always happy to answer your questions. Please best this answer if it has helped you.
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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