Use the following information to answer the question. The economic impact of an industry, such as sport fishing, can be measured by the retail sales it generates. In 2006, the economic impact of great lakes fishing in states bordering the great lakes had a mean of $318 and a standard deviation of $83.5. Note that all dollar amounts are in millions of dollars. Assume the distribution of retail sales is unimodal and symmetric. (Source: National Oceanic and Atmospheric Administration).
-For what percentage of great lakes states would you expect the economic impact from fishing to be between $151.00 and $485.00 (in millions of dollars)?
A)68%
B)95%
C)Nearly all
D)None of these

Question

Quizplus · Accepted Answer

The range $151 to $485 is within two standard deviations from the mean ($318 ± 2*$83.5). According to the empirical rule, about 95% of data falls within two standard deviations in a normal distribution.

Use the Following Information to Answer the Question