Suppose that monthly rental rates for unfurnished one-bedroom apartment in Springfield are approximately normal in distribution, with a mean of $1950 and a standard deviation of $250. a)b)c) Suppose that monthly rental rates for unfurnished one-bedroom apartment in Springfield areapproximately normal in distribution, with a mean of $1950 and a standard deviation of $250.a. What proportion of one bedroom apartments in Springfield have rental rates that aregreater than $2500 per month?b. What proportion of one bedroom apartments in Springfield have rental rates that are lessthan $1500 per month?c. What proportion of one bedroom apartments in Springfield have rental rates that arebetween $1500 and $2500 per month?

Answered: Suppose that monthly rental rates for…

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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Suppose that monthly rental rates for unfurnished one-bedroom apartment in Springfield are approximately normal in distribution, with a mean of $1950 and a standard deviation of $250. a) b) c)

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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Let X denote the monthly rental rates for unfurnished one-bedroom apartment in Springfield are approximately normal distribution with a mean of $μ =$ $1950 and a standard deviation of $σ = $ 250$

(a)

The proportion of one bedroom apartments in Springfield have a rates that are greater than $2500 per month is,