M/PF Research, Inc. lists the average monthly apartment rent in some of the most expensive apartment...

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M/PF Research, Inc. lists the average monthly apartmentrent in some of the most expensive apartment rental locations inthe United States. According to their report, the average cost ofrenting an apartment in Minneapolis is $951. Suppose that thestandard deviation of the cost of renting an apartment inMinneapolis is $96 and that apartment rents in Minneapolis arenormally distributed. If a Minneapolis apartment is randomlyselected, what is the probability that the price is:

(Round the values of z to 2 decimal places. Roundanswers to 4 decimal places.)

(a) $1,010 or more?

(b) Between $880 and $1,120?

(c) Between $825 and $935?

(d) Less than $730?

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4.0 Ratings (739 Votes)

a 951 96To find PX1010Z 1010 95196 061By Technology cumulative area under standard normal curve 07291SoPX1010 1 07291 02709SoAnswer is02709b 951 96To See Answer

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