tpx 8.00 points Exercise 6-21 Algo The average rent in a city is $1,600 per mont

Question

tpx 8.00 points Exercise 6-21 Algo The average rent in a city is $1,600 per month with a standard deviation of $240. Assume rent follows the maronrbam Use the empiIcal rule for normal dattu kra to answer the lobwing gest m a. What percentage of rents are between $1,360 and $1,840? (Round your answer to the nearest whole percent) Percentage of rents b. What percentage of rents are less than $1,360? (Round your answer to 1 decimel place.) Percentage of rents c. What percentage of rents are greater than $2,0807 (Round your answer to 1 decimal place.) Percentago of rents Hints References Search the web and Windows Lenovo

Explanation / Answer

Sol:

mean=1600

sd=240

SolutionA:

P(1360<X<1840)

convert to z

z=x-mean/sd

P(1360-1600/240<z<1840-1600/240)

=P(-1<z<1)

=0.6826

=68.26%

percentage of rents=68%(to nearest whole number)

Solutionb:

P(X<1360)

z=x-mean/sd

=1360-1600/240

=-1

P(z<-1)

=1-P(z<1)

=1-0.8413

=0.1587

0.1587*100=15.87%

ANSWER:16% (nearest integer)

SolutionC:

P(X>2080)

Z=X-MEAN/SD

=2080-1600/240

Z=2

P(Z>2)

=1-P(Z<2)

=1-0.9722

=0.0228

0.0228*100

=2.28%

=2%

ANSWER 2%(TO NEAREST INETGER)

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