Problem
The mean value of land and buildings per acre from a sample of farms is $13001300, with a standard deviation of $300300. The data set has a bell-shaped distribution. Assume the number of farms in the sample is 7575.
• Use the empirical rule to estimate the number of farms whose land and building values per acre are between $1000 and $1600.
• If 24 additional farms were sampled, about how many of these additional farms would you expect to have land and building values between $1000 per acre and $1600 per acre?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.