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Statistics - Standard Deviation

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According to the U.S. Bureau of census current Construction TReport, the average price of a new mobile home in the western part of the United States during 1993 was $40,500. Assume the standard deviation was $8,500/ Should a mobile home selling for $75,000 be considered and outlier? Explain why or why not.

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Solution Summary

The standard deviation according to the United States Bureau of census current construction report is examined. A complete, neat and step-by-step solution is provided.

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