Question

Check answer Please and help with #11.
Suppose houses are available for purchase during construction of a new housing development. Two different types of houses are being built: rancher and colonial. The mean price of the ranchers is $319,000 with a standard deviation of $12,000. The mean price of the colonials is $405,000 with a standard deviation of $18,500.

8. Find the combined mean price of the two different types of houses. (2 points)
$362,000

9. Find the combined standard deviation of the two different types of houses. (2 points)
$22,051.0771 or $22,051.08

10. The purchase price for the colonial houses is reduced by $10,000. What would be the new mean for the colonial houses? (2 points)
$357,000

11. If the purchase price for the colonial houses is reduced by $10,000, how much would the standard deviation for the colonial houses change? (2 points)16,055.72 or changed to $5,996.09

Answer 1

A)
Combined mean = (319000+405000)/2 = 362,000

B)
Combined variance = (12000)^2+(18500)^2 =144 000 000 + 342 250 000 = 486 250 000
Combined standard deviation = square root [486 250 000] = 22,051.0771

C)
colonial new price = 395,000
new mean = (319,000+395,000)/2 =

D)
Do as in (B) using the prices 319,000 and 395,000

Answer 2

Is the answer for correct and which one.

Answer 3

first

Answer 4

11. 16,055.72