Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
7th Edition
ISBN: 9781337298353
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
Publisher: South-Western College Pub
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Chapter 6.2, Problem 25E

New York City is the most expensive city in the United States for lodging. The mean hotel room rate is $204 per night (USA Today, April 30, 2012). Assume that room rates are normally distributed with a standard deviation of $55.

  1. What is the probability that a hotel room costs $225 more per night?
  2. What is the probability that a hotel room costs less than $140 per night?
  3. What is the probability that a hotel room costs between $200 and $300 per night?
  4. What is the cost of the most expensive 20% of hotel rooms in New York City?

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