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  3. monthly rent at an apartment complex is $500. oper

Monthly rent at an apartment complex is $500. Operating costs follow a normal distribution with a...

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Statistics

Monthly rent at an apartment complex is $500. Operating costsfollow a normal distribution with a mean of $15000 and a standarddeviation of $300 (minimum of 0). The number of apartments rentedfollow a triangular distribution with a minimum of 30, most likely34, and
a maximum of 40. Run the simulation and report the descriptivestatistics for the profit of the complex (mean, etc.). Also, reportpercentile information on the level of profit. Finally, you areconcerned that the complex might lose money in a typical month andyou will be fired as a result. Should you be worried?

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4.5 Ratings (846 Votes)
Let X be the operating cost of the complex X has a normaldistribution with    See Answer
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