Question 1159545: The average weekly rent for flats and houses is $250. Suppose the rents are Normally distributed with a standard deviation of $40, what percentage of houses or flats rent for less than $200 per week?The average weekly rent for flats and houses is $250. Suppose the rents are Normally distributed with a standard deviation of $40, what percentage of houses or flats rent for less than $200 per week?
how do I go about this question?
Answer by Boreal(15235)   (Show Source):
You can put this solution on YOUR website! z=(x-mean)/sd. This will convert a N(mean, variance) into a N(0, 1) problem, where we have probabilities.
=(200-250)/40
=-50/40
=-1.25
Want the probability z<-1.25, and that is 0.1056.
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