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 deviationis 1,500 and the variable is normally distributed.
(x-145,500)/1500 = z
To find z you can either do =normsinv(.7) in excel or use a …
The expert determines the price range for contractors to build home for middle 80% markets.