Suppose monthly rental prices for a one-bedroom apartment in a large city has a distribution that is skewed to the right with a population mean of $880 and a standard deviation of $50. Question 1 Subquestions 1.a Suppose a one-bedroom rental listing in this large city is selected at random. What can be said about the probability that the listed rent price will be at least $930? 0.68 0.16 0.9857 0.0143 It cannot be determined accurately from the information given.

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Question 1 Background :
Rent prices
Suppose monthly rental prices for a one-bedroom apartment in a large city has a distribution that is skewed to the right with a population mean of $880
and a standard deviation of $50.
Question 1 Subquestions
1.a
Suppose a one-bedroom rental listing in this large city is selected at random. What can be said about the probability that the listed rent price will be at
least $930?
0.68
0.16
0.9857
0.0143
It cannot be determined accurately from the information given.
Transcribed Image Text:Question 1 Background : Rent prices Suppose monthly rental prices for a one-bedroom apartment in a large city has a distribution that is skewed to the right with a population mean of $880 and a standard deviation of $50. Question 1 Subquestions 1.a Suppose a one-bedroom rental listing in this large city is selected at random. What can be said about the probability that the listed rent price will be at least $930? 0.68 0.16 0.9857 0.0143 It cannot be determined accurately from the information given.
1.b
Suppose a random sample of 30 one-bedroom rental listings in this large city will be selected, the rent price will be recorded for each listing, and the
sample mean rent price will be computed. What can be said about the probability that the sample mean rent price will be greater than $900?
0.68
0.16
0.9857
0.0143
It cannot be determined accurately from the information given.
Transcribed Image Text:1.b Suppose a random sample of 30 one-bedroom rental listings in this large city will be selected, the rent price will be recorded for each listing, and the sample mean rent price will be computed. What can be said about the probability that the sample mean rent price will be greater than $900? 0.68 0.16 0.9857 0.0143 It cannot be determined accurately from the information given.
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