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Question

New York City is the most expensive city in the United States for lodging. The mean hotel room rate is $204 per night. Suppose that room rates are normally distributed with a standard deviation of $55.

a. What is the possibility that a hotel room costs $225 or more per night?

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

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1 of 7In this task, we will calculate the probability that the value of a normal random variable $x$, which has the mean of $\mu=204$ and the standard deviation of $\sigma=55$, will be greater or equal to $225$.

To be more precise, we will calculate the probability that the value of a normal random variable $x$ will be inside the interval $\left[225,\infty\right)$.

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