Question

Check My Worl eBook New York City is the most ex standard deviation of $55. Use Table 1 in Appendix B 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 distribute What is the probability that a hotel room costs $225 or more per night (to 4 decimals)? 0.3513 b. What is the probability that a hotel room costs less than $140 per night (to 4 decimals)? 0.1223 c. What is the probability that a hotel room costs between $200 and $300 per night (to 4 decimals)? d. rooms in New York City? Round up to the next dollar. 251 Hide Check My Work (e remainin

Answer 1

c)

P(200 < x < 300)
= P((200 -204)/55 < z < (300 - 204)/55)
= P(-0.0727 < z < 1.7455)
= 0.4885

a)

std.dev = sqrt(200 * 0.60*0.40) = 6.9282

b)

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c)

P(100 < x < 110) = P(x < 110) - P(x < 99)
= P(x< 109.5) - P( x < 98.5)
= 0.0655 - 0.0011
= 0.0644

d)

P(x > 130) = P(x > 130.5)
= 1- P(x< 130.5)
1-BINOM.DIST(130.5,200,0.6,TRUE)
= 0.4885

e)

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e)

Var(x)=

187.5