Assume the room rate for a three-star hotel in a European city follows a normal distribution with a mean of 170 euros and a standard deviation of 16 euros. a. What is the probability that a randomly selected three-star hotel has a room rate of 4. between 145 and 177 euros? b. A particular hotel would like to set its rate so that only 30% of hotels in the city will have lower rates. What room rate should the hotel set?
Assume the room rate for a three-star hotel in a European city follows a normal distribution with a mean of 170 euros and a standard deviation of 16 euros. a. What is the probability that a randomly selected three-star hotel has a room rate of 4. between 145 and 177 euros? b. A particular hotel would like to set its rate so that only 30% of hotels in the city will have lower rates. What room rate should the hotel set?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Assume the room rate for a three-star hotel in a European city follows a normal distribution with a mean of 170 euros and a standard deviation of 16 euros.
a. What is the probability that a randomly selected three-star hotel has a room rate of
4. between 145 and 177 euros?
b. A particular hotel would like to set its rate so that only 30%
of hotels in the city will have lower rates. What room rate should the hotel set?
of hotels in the city will have lower rates. What room rate should the hotel set?
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