Question

New York City is the most expensive city in the United States for lodging. The mean hotel room rate is $203 per night (USA Today, April 30, 2012). Assume that room rates are normally distributed with a standard deviation of $56. Use Table 1 in Appendix B. a. What is the probability that a hotel room costs $226 or more per night (to 4 decimals)? .3406 b. What is the probability that a hotel room costs less than $143 per night (to 4 decimals)? .1420 c. What is the probability that a hotel room costs between $200 and $299 per night (to 4 decimals)? .4780 d. What is the cost of the 20% most expensive hotel rooms in New York City? Round up to the next dollar.

Answer 1