M/PF Research, Inc. lists the average monthly apartment rent in some of the most expensive apartment rental
Question:
M/PF Research, Inc. lists the average monthly apartment rent in some of the most expensive apartment rental locations in the United States. According to their report, the average cost of renting an apartment in Minneapolis is $951. Suppose that the standard deviation of the cost of renting an apartment in Minneapolis is $96 and that apartment rents in Minneapolis are normally distributed. If a Minneapolis apartment is randomly selected, what is the probability that the price is:
a. $1,000 or more?
b. Between $900 and $1,100?
c. Between $825 and $925?
d. Less than $700?
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951 s 96 a P x 1000 z 051 From Table A5 the area for z 051 is 1950 P x 1000 5000 1950 3050 b P 90...View the full answer
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