Asked by
Carlos Aviles
on Dec 14, 2024Verified
If the monthly rent of all one-bedroom apartments in a small town are known to be normally distributed with a mean equal to $175 a month and standard deviation of $35, which of the following would be the highest individual rent that you might expect to find?
A) about $195
B) about $210
C) about $245
D) about $280
E) More information is needed to answer the question.
Standard Deviation
It quantifies the dispersion of a dataset by calculating the average distance of each data point from the mean.
Monthly Rent
Refers to the periodic payment made to a landlord or property owner for the use of a residence or commercial space.
One-Bedroom Apartments
Living spaces designed to include one bedroom along with other living areas such as a living room, kitchen, and bathroom.
- Understand the connection between distributions of population and distributions of samples.
Verified Answer
FP
Learning Objectives
- Understand the connection between distributions of population and distributions of samples.