The average daily rate of a hotel in Canada as of August 2018 was $193.65. Assume the average daily rate follows a normal distribution with a standard deviation of $24.60. a. What is the probability that the average daily rate of a Canadian hotel will be: (i) less than $170 P(X < 170)=

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The average daily rate of a hotel in Canada as of August 2018 was $193.65. Assume the average daily rate follows a normal distribution with a standard deviation of $24.60.
a. What is the probability that the average daily rate of a Canadian hotel will be:

(i) less than $170
P(X < 170)=
 


(ii) more than $200
P(X > 200)=
 


(iii) Between $145 and $185
P(145 < X < 185)=
 
b. Determine the average daily rates that separate the:

(i) top 8% of average daily rates from the rest of the daily rates or from the bottom 92% of average daily rates
x=
 
Round to 2 decimal places.

(ii) bottom 15% of average daily rates from the rest of the daily rates
x=
 
Round to 2 decimal places.

(iii) middle 70% of average daily rates from the rest of the daily rates
 
= ? < x <  ?
 
Round to 2 decimal places.
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b. Determine the average daily rates that separate the:

(i) top 8% of average daily rates from the rest of the daily rates or from the bottom 92% of average daily rates
x=
 
Round to 2 decimal places.

(ii) bottom 15% of average daily rates from the rest of the daily rates
x=
 
Round to 2 decimal places.

(iii) middle 70% of average daily rates from the rest of the daily rates
 
= ? < x <  ?
 
Round to 2 decimal places.
 
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