## New York City is the most expensive city in the United States for lodging. The room rate is $204 per night (USA Today, April 30, 2012). Assu

Question

New York City is the most expensive city in the United States for lodging. The room rate is $204 per night (USA Today, April 30, 2012). Assume that room ratesa mally distributed with a standard deviation of $55. a. What is the probability that a hotel room costs $225 or more per ni b. What is the probability that a hotel room costs less than $140 per n c. What is the probability that a hotel room costs between $200 and $300 per ni me 25. are nor ght? ight? d. What is the cost of the most expensive 20% of hotel rooms in New York City?

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2021-10-01T18:33:56+00:00
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## Answers ( )

Answer:a. P=0.35

b. P=0.12

c. P=0.49

d. Cost: more than $249 per night.

Step-by-step explanation:We assume a normal distribution with mean $204 and s.d of $55.

To calculate the probability we calculate the z-value for each case

a. What is the probability that a hotel room costs $225 or more

b. What is the probability that a hotel room costs less than $140

c. What is the probability that a hotel room costs between $200 and $300

d. What is the cost of the most expensive 20% of hotel rooms in New York City?

In this case, we have to estimate z’ so thats P(z>z’)=0.2. This value is z=0.841.

Then, the value of X should be: