High-rent district: The mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is $2663. Assume the standard deviation is $506. A real estate firm samples 106 apartments. Use Excel. Part 1 of 5 (a) What is the probability that the sample mean rent is greater than $2733? Round the answer to at least four decimal places. The probability that the sample mean rent is greater than $2733 is 0772 Alternate Answer: The probability that the sample mean rent is greater than $2733 is 0.0772. Part 2 col 5 (b) What is the probability that the sample mean rent is between $2500 and $2575? Round the answer to at least four decimal places. The probability that the sample mean rent is between $2500 and $2575 is 0367 Part 3 of 5 (c) Find the percentile of the sample mean. Round the answer to at least two decimal places. The 90 percentile of the sample mean rent is s 2726.01 Part 4 of 5 (d) Would it be unusual if the sample mean were greater than $2600? Round the answer to at least four decimal places. ▾, because the probability that the sample mean is greater than $260 is 2912 Pert: 4/5 Part 5 of 5 (e) Do you think it would be unusual for an individual apartment to have a rent greater than s260? Explain. Assume the variable is normally distributed. Round the answer to at least four decimal places. (Choose one), because the probability that an apartment has a rent greater than $2690 is.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Do vou think it would be unusua for an individua apartment to have a rent greater than s2690? Exolain. Assume the variable is normally distribution

High-rent district: The mean monthly rent for a one-bedroom
apartment without a doorman in Manhattan is $2663. Assume the
standard deviation is $506. A real estate firm samples 106 apartments. Use
Excel.
Part 1 of 5
(a) What is the probability that the sample mean rent is greater than
$2733? Round the answer to at least four decimal places.
The probability that the sample mean rent is greater than $2733 is 0772
Alternate Answer:
The probability that the sample mean rent is greater than $2733 is
0,0772.
Part 2 of 5
(b) What is the probability that the sample mean rent is between
$2500 and $2575? Round the answer to at least four decimal places.
The probability that the sample mean rent is between $2500 and $2575 is .0367
Part 3 of 5
(c) Find the 90th percentile of the sample mean. Round the answer to
at least two decimal places.
The 90th percentile of the sample mean rent is s 2726.01
Part 4 of 5
(d) Would it be unusual if the sample mean were greater than $2690?
Round the answer to at least four decimal places.
No
than $2690 is 2912.
Part: 4/5
because the probability that the sample mean is greater
Part 5 of 5
(e) Do you think it would be unusual for an individual apartment to
have a rent greater than $2690? Explain. Assume the variable is
normally distributed. Round the answer to at least four decimal
places.
(Choose one) because the probability that an apartment has a rent
greater than $2690 is.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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