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The average daily rate of a hotel in Canada as of August 2018 was $182.85. Assume the average
daily rate follows a normal distribution with a standard deviation of $23.70.
Standard Normal Distribution Table
a. What is the probability that the average daily rate of a Canadian hotel will be:
(i) less than $170
P(X < 170)=___
(ii) more than $210
P(X > 210)=____
(iii) Between $155 and $195
P(155 < X < 195)=___
b. Determine the average daily rates that separate the:
(i) top 6% of average daily rates from the rest of the daily rates or from the bottom 94% of
average daily rates
x=___
Round to 2 decimal places.
(ii) bottom 20% of average daily rates from the rest of the daily rates
x=___
Round to 2 decimal places.
(iii) middle 70% of average daily rates from the rest of the daily rates
___< x < __
Round to 2 decimal places.

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The average daily rate of a hotel in Canada as of August 201.pdf

  • 1. The average daily rate of a hotel in Canada as of August 2018 was $182.85. Assume the average daily rate follows a normal distribution with a standard deviation of $23.70. Standard Normal Distribution Table a. What is the probability that the average daily rate of a Canadian hotel will be: (i) less than $170 P(X < 170)=___ (ii) more than $210 P(X > 210)=____ (iii) Between $155 and $195 P(155 < X < 195)=___ b. Determine the average daily rates that separate the: (i) top 6% of average daily rates from the rest of the daily rates or from the bottom 94% of average daily rates x=___ Round to 2 decimal places. (ii) bottom 20% of average daily rates from the rest of the daily rates x=___ Round to 2 decimal places. (iii) middle 70% of average daily rates from the rest of the daily rates ___< x < __ Round to 2 decimal places.