In january 2011 the average monthly rental rate for


In January 2011, the average monthly rental rate for one-bedroom apartments in a certain city was $783. Suppose rental rates across all one-bedroom apartments in this city follow approximately a normal distribution, with a standard deviation of $170. Find the approximate proportion of one-bedroom apartments for which the rental rate:

a. is at least $1000 a month.

b. is less than $500 a month.

c. is between $500 and $1000 a month.

Solution Preview :

Prepared by a verified Expert
Basic Statistics: In january 2011 the average monthly rental rate for
Reference No:- TGS01722195

Now Priced at $10 (50% Discount)

Recommended (93%)

Rated (4.5/5)