Explore BrainMass

Explore BrainMass

    Price range for contractor to build home for middle 80% markets

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    If the average price of a new home is 145,500 find the max and min prices of homes the contractor would build to attract the middle 80% of the market. Assume that the standard deviation is 1,500 and the variable is normally distributed.

    © BrainMass Inc. brainmass.com June 4, 2020, 1:24 am ad1c9bdddf

    Solution Preview

    (x-145,500)/1500 = z

    To find z you can either do =normsinv(.7) in excel or use a ...

    Solution Summary

    The expert determines the price range for contractors to build home for middle 80% markets.