Question

In Jan. 2011 the average rental rate for one bedroom apartments in Ann Arbor, Michigan was...

In Jan. 2011 the average rental rate for one bedroom apartments in Ann Arbor, Michigan was $796. Suppose rental rates for all one bedroom apartments in Ann Arbor follow approx. a normal distribution, with a standard deviation of $150. Find the approx. proportion of one-bedroom apartments for which the rental rate:

a) is less than $1000 a month.

b) is greater than $1000 a month.

c) is between $550 and $1000 a month.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Consider the 2016 rental listings for Manhattan in New York City for non-doorman one bedroom apartments....
Consider the 2016 rental listings for Manhattan in New York City for non-doorman one bedroom apartments. Suppose that the mean monthly rental for 2016 is $3,500. Suppose that you are interested in whether rental rates for this type of apartment are changing. Your null hypothesis is H0: μ = $3,500 per month versus HA: μ ≠ $3,500 per month. You conduct an SRS of size 40 ads in February for this type of apartment in Manhattan. Your sample statistics: xmean...
The average apartment rental at Gotham is approximately $615 per month. Suppose these rates are roughly...
The average apartment rental at Gotham is approximately $615 per month. Suppose these rates are roughly normal with a standard deviation of $100. What proportion of rentals: 1. is at least $710 per month?     2. is less than $450 per month?    3. is between $450 and $800 per month?    Use the Z-score table of Areas Under the Standardized Normal Distribution. You may find it in Appendix D of the Basic Econometrics textbook. Please round your Z score to the nearest...
Problem 2 At a particular university in an urban area, official policy mandates that university-owned student...
Problem 2 At a particular university in an urban area, official policy mandates that university-owned student housing shall rent for no more than 80% of the market rate for comparable housing. Rent for all two-bedroom university-owned student apartments is $570/month. All the university-owned two-bedroom student apartments have one bathroom, no view, and are comparable in construction, size, age, amenities, etc. To determine whether the rent satisfies the rules, an administrator proposes to compile as complete a list as he can...
Government data indicates that the mean hourly wage for manufacturing jobs in the US is $18.50....
Government data indicates that the mean hourly wage for manufacturing jobs in the US is $18.50. Suppose the distribution of the manufacturing wage rates nationwide can be approximated by a normal distribution with standard deviation of $1.25 per hour. the first manufacturing firm contacted by a particular worker seeking a new job pays $19.80 per hour. A. If the worker were to undertake a nationwide job search, approx what proportion of the wage rates would be greater than $19.80? B....
1. (6 pts) The Graduate Record Examination (GRE) is a test required for admission to many...
1. (6 pts) The Graduate Record Examination (GRE) is a test required for admission to many U.S. graduate schools. Students' scores on the quantitative portion of the GRE follow a normal distribution with mean 150 and standard deviation 8.8. In addition to other qualifications, a score of at least 160 is required for admission to a particular graduate school. What proportion of combined scores can be expected to be over 160? What proportion of combined GRE scores can be expected...
The resting heart rate for an adult horse should average about μ = 42 beats per...
The resting heart rate for an adult horse should average about μ = 42 beats per minute with a (95% of data) range from 18 to 66 beats per minute. Let x be a random variable that represents the resting heart rate for an adult horse. Assume that x has a distribution that is approximately normal. (a) The empirical rule indicates that for a symmetrical and bell-shaped distribution, approximately 95% of the data lies within two standard deviations of the...
Instructions: Write probabilities to four decimal places (percentages to two decimal places). Draw bell curves to...
Instructions: Write probabilities to four decimal places (percentages to two decimal places). Draw bell curves to illustrate each desired areas. Use the correct probability notation (e.g. P(X >12.5) = P(z > 1.2) …. Use the Standard Normal Distribution Table to answer Questions 1 & 8). 1. The total blood cholesterol levels in a certain Mediterranean population are found to be normally distributed with a mean of 160 milligrams/deciliter (mg/dL) and a standard deviation of 50 mg/dL. Researchers at the National...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how the firms resources incompetencies support the given pressures regarding costs and local responsiveness. Describe entry modes have they usually used, and whether they are appropriate for the given strategy. Any key issues in their global strategy? casestudy: Atlanta, June 17, 2014. Sea of Delta employees and their families swarmed between food trucks, amusement park booths, and entertainment venues that were scattered throughout what would...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT