00:01
Let's address each part of this problem step by step.
00:04
So first, we determine the coefficient of variation.
00:09
And that is major relative variability.
00:20
And we calculate this by standard deviation divided by mean into 100.
00:33
So we plug in the values.
00:49
Now we calculate the z -score for a house that sells by 3, 1, 0, 0, 0, 0.
00:56
So we have z is equal to x minus mu divided by sigma.
01:03
So z is equal to 3, 1, 0, 0, 0, 0, 0, minus 3, 2, 5, 0, divided by 40, 0, 0, 0.
01:15
And that gives us 0 .0375...