Suppose the average selling price for house in certain country is $325,000 with standard deviation of $40,000.
a. Find out the coefficient of the variation.
b. Compute the z-score for the house that sells for $310,000.
c. Using the empirical rule, find out the range of prices that includes 95% of the homes around the mean.
d. Using Chebyshev's theorem, find out the range of prices that include at least 94% of the homes around the mean.