Question

keiko and her family are relocating to los angeles. they purchased a home they really like, which cost $745,000. the mean home price in the area is $715,000 with a standard deviation $13,150.
find the z - score of the price of keikos home relative to the prices among all the homes in the area. round your answer to two decimal places.
z =

Explanation:

Step1: Recall the z - score formula

The z - score formula is \(z=\frac{x-\mu}{\sigma}\), where \(x\) is the data point, \(\mu\) is the mean, and \(\sigma\) is the standard deviation.

Step2: Identify the values of \(x\), \(\mu\), and \(\sigma\)

Here, \(x = 745000\), \(\mu=715000\), and \(\sigma = 13150\).

Step3: Substitute the values into the formula

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Step4: Calculate the value

\(z=\frac{30000}{13150}\approx2.28\)

Answer:

\(z = 2.28\)