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The average daily rate of a hotel in Canada as of August 2018 was $118.65. Assume the average daily rate follows a normal distribution with
The average daily rate of a hotel in Canada as of August 2018 was $118.65. Assume the average daily rate follows a normal distribution with a standard deviation of $22.60. Standard Normal Distribution Table at. What is the probability that the average daily:r rate of a Canadian hotel will be: [i] less than $1?!) P[X<:1 more than p>210)=|j [iii] Between $140 and $135 13.1140 c X: 135) 2E b. Determine the average daily rates that separate the: (i) top 6% of average daily rates from the rest of the daily rates or from the bottom 94% of average daily rates T = $0.00 Round to 2 decimal places. (ii) bottom 25% of average daily rates from the rest of the daily rates T = $0.00 Round to 2 decimal places. (iii) middle 65% of average daily rates from the rest of the daily rates $0.00 $0.00 Round to 2 decimal places
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