Answer:
The standard deviation of the price she will get is $8,371.58.
Step-by-step explanation:
An uniform probability is a case of probability in which each outcome is equally as likely.
For this situation, we have a lower limit of the distribution that we call a and an upper limit that we call b.
The variance of the uniform distribution is given by:
[tex]V = \frac{(b-a)^{2}}{12}[/tex]
The standard deviation is the square root of the variance.
Uniformly distributed between $204,000 and $233,000
This means that [tex]a = 204000, b = 233000[/tex]
So
[tex]V = \frac{(b-a)^{2}}{12} = \frac{(233000 - 204000)^{2}}{12} = 70,083,333.33[/tex]
The standard deviation is the square root of the variance. So
[tex]S = \sqrt{70,083,333.33} = 8,371.58[/tex]
The standard deviation of the price she will get is $8,371.58.
