Question
A sample of daily hotel rates for a family suite approximates a symmetrical, bellshaped distribution. The sample mean is $500; the standard deviation is $20.
A sample of daily hotel rates for a family suite approximates a symmetrical, bellshaped distribution. The sample mean is $500; the standard deviation is $20. Using the Empirical Rule, estimate:
- 68% of the daily hotel rates are between what two amounts?
- Almost all of the daily hotel rates are between what two amounts?
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Get StartedRecommended Textbook for
An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
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