Question 3.25: Prices of Homes The mean price of houses in a certain neighb......

Chebyshev’s theorem states that three-fourths, or 75%, of the data values will fall within 2 standard deviations of the mean. Thus,

$50,000 + 2($10,000) = $50,000 + $20,000 = $70,000

and

$50,000 − 2($10,000) = $50,000 − $20,000 = $30,000

Hence, at least 75% of all homes sold in the area will have a price range from $30,000 to $70,000.