Statistics

posted by .

The mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is $2,636. Assume the standard deviation is $500. A real estate firm samples 100 apartments. What is the probability that the average rent of the sample is more than $2,680?

  • Statistics -

    Assuming a normal distribution:

    Z = (score-mean)/SEm

    SEm = SD/√n = 500/√100 = 500/10 = 50

    Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability related to the Z score.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Probability & Statistics

    You want to rent an unfurnished one-bedroom apartment in Boston next year. The mean monthly rent for a random sample of 14 apartments advertised in the local newspaper is $1200. Assume that the standard deviation is $230. Find a 95% …
  2. Stats

    You want to rent an unfurnished one-bedroom apartment in Boston next year. The mean monthly rent for a random sample of 14 apartments advertised in the local newspaper is $1200. Assume that the standard deviation is $230. Find a 95% …
  3. statistics

    A rental agent claims that the mean monthly rent, u , for apartments on the east side of town is less than $675. A random sample of 21 monthly rents for apartments on the east side has a mean of $674, with a standard deviation of $18. …
  4. statistics

    David wants to rent an unfurnished apartment for next semester. He took a random sample of 9 apartments adversised in the local Halifax paper, and recorded the rental rates. The rents (in $ per month) were: 500 650 600 505 450 550 …
  5. statistics

    You randomly choose 16 unfurnished one-bedroom apartments from a large number of advertisements in your local newspaper. You calculate that their mean monthly rent is $613 and their standard deviation is $96. Does this SRS give good …
  6. math

    You randomly choose 16 unfurnished one-bedroom apartments from a large number of advertisements in your local newspaper. You calculate that their mean monthly rent is $613 and their standard deviation is $96. Does this SRS give good …
  7. Math

    A real estate company owns 218 efficiency apartments, which are fully occupied when the rent is $940 /month. The company estimated that for each $25 increase in rent, 5 apartments will become unoccupied. What rent should be charged …
  8. Statistics

    The mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is $2,651. Assume the standard deviation is $500. A real estate firm samples 100 apartments. What is the probability that the average rent of the sample …
  9. statistics

    The mean rent of a 3-bedroom apartment in Orlando is $1200. You randomly select 12 apartments around town. The rents are normally distributed with a standard deviation of $75. What is the probability that the mean rent is more than …
  10. STATISTIC

    You want to rent an unfurnished one-bedroom apartment in Dallas next year. The mean monthly rent for a random sample of 11 apartments advertised in the local newspaper is $1050. Assume the monthly rents in Dallas follow a Normal distribution …

More Similar Questions