Question

Not everyone pays the same price for the same model of a car.

Answer 1

Step-by-step explanation

We are to use the empirical rule to find the percentage of buyers who paid less than $16000

The empirical rule tells us about the distribution of data from a normally distributed population. It states that ~68% of the data fall within one standard deviation of the mean, ~95% of the data fall within two standard deviations, and ~99.7% of all data is within three standard deviations from the mean

So from the question, to obtain a price lower than $16000 we have less than 2 standard deviations from the mean as shown below

Therefore, the percentage will be the red part indicated above

`50\text{\%-47.5\%=2.5\%}`

Therefore, the percentage of buyers who paid less than $16000 will be approximately 2.5%