The average daily rate of a hotel in Canada as of August 2018 was $183.75. Assume the average daily rate follows a norma
Posted: Wed Jul 06, 2022 12:10 pm
The average daily rate of a hotel in Canada as of August 2018 was $183.75. Assume the average daily rate follows a normal distribution with a standard deviation of $25.60. Standard Normal Distribution Table a. What is the probability that the average daily rate of a Canadian hotel will be () less than $175 P(X<175) E () more than $215 P(X>215)= 0 0 (ii) Between $150 and $190 P(150<X<190)= ZO 0 b. Determine the average daily rates that separate the 0) top 8% of average daily rates from the rest of the daily rates or from the bottom 92% of average daily rates 50.00 (0) bottom 25% of everage daily rates from the rest of the daily rates $0.00 (i) middle 60% of everage daily rates from the rest of the daily rates $0.00 50.00