The average daily rate of a hotel in Canada as of August 2018 was $172.85. Assume the average daily rate follows a normal distribution with a standard deviation of $26.60. Standard Normal Distribution Table a. What is the probability that the average daily rate of a Canadian hotel will be: (i) less than $175 P(X < 175) (ii) more than $210 P(X> 210) 0 08 (iii) Between $145 and $190 P (145< X<190) = 09

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G
DE
1
Paragraph
J
2..
Standard Normal Distribution Table
CA
(i) less than $175
P(X < 175)
5
The average daily rate of a hotel in Canada as of August 2018 was $172.85. Assume the
average daily rate follows a normal distribution with a standard deviation of $26.60.
0
a. What is the probability that the average daily rate of a Canadian hotel will be:
(ii) more than $210
P(X> 210)
(iii) Between $145 and $190
P (145< X <190) = 0
08
318
Styles
D
5
I
Transcribed Image Text:G DE 1 Paragraph J 2.. Standard Normal Distribution Table CA (i) less than $175 P(X < 175) 5 The average daily rate of a hotel in Canada as of August 2018 was $172.85. Assume the average daily rate follows a normal distribution with a standard deviation of $26.60. 0 a. What is the probability that the average daily rate of a Canadian hotel will be: (ii) more than $210 P(X> 210) (iii) Between $145 and $190 P (145< X <190) = 0 08 318 Styles D 5 I
b. Determine the average daily rates that separate the:
(i) top 4% of average daily rates from the rest of the daily rates or from the
bottom 96% of average daily rates
$0.00
I=
Round to 2 decimal places.
(ii) bottom 10% of average daily rates from the rest of the daily rates
$0.00 E
+-
(iii) iddle 65% of average daily rates from the rest of the daily rates
$0.00 <<
$0.00 E
Round to 2 decimal places.
I
Transcribed Image Text:b. Determine the average daily rates that separate the: (i) top 4% of average daily rates from the rest of the daily rates or from the bottom 96% of average daily rates $0.00 I= Round to 2 decimal places. (ii) bottom 10% of average daily rates from the rest of the daily rates $0.00 E +- (iii) iddle 65% of average daily rates from the rest of the daily rates $0.00 << $0.00 E Round to 2 decimal places. I
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