Question

Ms. Ramírez is a real estate broker. Last month, the sale prices of homes in her area approximated a normal distribution with a mean of $150,000 and a standard deviation of $25,000. What is the probability that the sale is less than $175,000?(1 point)
The probability that the sale is less than $175,000 is
%.

Answer 1

Compute z = (175,000 − 150,000)/25,000 = 1.0.
P(Z < 1.0) ≈ 0.8413 = 84.13%.

So the probability is about 84.13%.