FREE Trial

M/PF Research, Inc. lists the average monthly apartment rent in some of the most expensive apartment rental locations in the United States. According to their report, the average cost of renting an apartment in Minneapolis is $951. Suppose that the

M/PF Research, Inc. lists the average monthly apartment rent in some of the most expensive apartment rental locations in the United States. According to their report, the average cost of renting an apartment in Minneapolis is $951. Suppose that the standard deviation of the cost of renting an apartment in Minneapolis is $96 and that apartment rents in Minneapolis are normally distributed. If a Minneapolis apartment is randomly selected, what is the probability that the price is:

a. $1,000 or more?

b. Between $900 and $1,100?

c. Between $825 and $925?

d. Less than $700?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!
  • Tutor Answer

951 96 a P x 1000 From Table A 5 the area for z 0 51 is 1950 P x 1000 5000 1950 3…View the full answer


answer-question
Related Book For  answer-question
Business Statistics for Contemporary Decision Making

Business Statistics for Contemporary Decision Making

ISBN: 978-0470910184

6th Edition

Authors: Ken Black

See More Books
Posted Date: March 19, 2013 04:23:05
See More Questions

Students also viewed these Statistics questions

Q:
The Zumper National Rent Report lists the average monthly apartment rent in various locations in the United States. According to their report, the average cost of renting a one-bedroom apartment in...
A:
1090 s 96 a P x 115......
Q:
The Excel file titled gasoline prices.xlsx lists the average monthly price per gallon of regular gasoline in the United States from August 1990 to January 2013 from the U.S. Energy Information...
A:
The trend in gasoline prices appear to rise......
Q:
Suppose that the standard deviation of the returns on the shares of stock at two different companies is exactly the same. Does this mean that the required rate of return will be the same for these...
A:
No Because some risk can be diversified away it is possible that two stocks with the sam......
Q:
Lombard Ltd has been offered a contract for which there is available production capacity. The contract is for 20,000 identical items, manufactured by an intricate assembly operation, to be produced...
A:
In the following case the calculation of incremental profit is a......
Q:
Use this fact (and no row operations) to find scalars c1, c2, c3, such that 153 153 456 730
A:
To conclude I can say that by definiti......
Q:
Problems 56 65. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for later sections, a final exam, or subsequent courses such as calculus....
A:
The given expression is 125p 3 8q 6 This expression can be factored using the differenc......
Q:
The following symbolized arguments are missing a premise. Write the premise needed to derive the conclusion (last line ), and supply the justification for the conclusion. Try to construct the...
A:
Click to View...
Q:
1. Suppose you wanted to predict Winnings ($) using only the number of poles won (Poles), the number of wins (Wins), the number of top five finishes (Top 5), or the number of top ten finishes (Top...
A:
1 The Minitab output showing the sample correlation coefficients follows Winnings Poles Wins Top 5 Poles 0 406 0 015 Wins 0 662 0 133 0 000 0 446 Top 5 0 861 0 437 0 725 0 000 0 009 0 000 Top 10 0 898......
Q:
You have been appointed the Human Resource Manager of a popular College in South Africa. You are advised that thecompany has recently faced criticism from the Department of Upper Education over its...
A:
Your Name Human Resource Manager College Name Date To CEO s Name Chief Executive Officer College Name Subject Affirmative Action Implementation Strategy 15 1 Problem Statement I write to address conce......
Q:
You were just hired as an analyst for a credit rating agency that evaluates publically listed companies in the United States. The company already has some Data Analytic tools that it uses to evaluate...
A:
1 The file can be named Financial Statement Analysis 2 Use what you know about financial stateme......
Q:
A business convention holds its registration on Wednesday morning from 9:00 A.M. until 12:00 noon. Past history has shown that registrant arrivals follow a Poisson distribution at an average rate of...
A:
l 1 8 per 15 seconds a b For x 0 25 sec use x......
Q:
According to The Wirthlin Report, 24% of all workers say that their job is very stressful. If 60 workers are randomly selected: a. What is the probability that 17 or more say that their job is very...
A:
n 60 p 24 n p 60 24 14 4 3 308 Test 3 14 4 3 3 308 14 4 9 9......
Q:
A firecracker is tossed straight up into the air. It explodes into three pieces of equal mass just as it reaches the highest point. Two pieces move off at 120 m/s at right angles to each other. How...
A:
Use conservation of momentum Let each of the......
Q:
Some Coca-Cola investors want the company to spend more on advertising products in growing categories, such as sports drinks, and less on trying to revive consumer interest in full-calorie soft...
A:
If Coca Cola investors are advocating for the company to allocate more resources towards advertising products in growing categories like sports drinks and reduce their efforts to revive consumer inter......
Q:
Growth by apical meristems has been previously described. In woody species, additional tissues are produced in the stem and root by two other meristems, the _______________________________________...
A:
In woody species additional tissues are produced in the stem and root by two other meristems......
Q:
What do you think of the actions of Don lmuss sponsors? Imus apologized repeatedly for his comments. Should the advertisers have stuck by him? What were the concerns of the advertisers about...
A:
Don Imus s Apology Don Imus made controversial and offensive comments in 2007 about the Rutgers University women s basketball team which led to widesp......
Q:
Where is the socially accepted line between erotic suggestiveness and explicit sexuality in advertising? Describe three hypothetical ads: one that is safely suggestive, one that is as suggestive as...
A:
The socially accepted line between erotic suggestiveness and explicit sexuality in advertising can vary depending on cultural norms societal values and the specific media platform where the ad is bein......
Q:
Search the Internet for knowledge management products and systems and create categories for them. Assign one vendor to each team. Describe the categories you created and justify them.
A:
Knowledge management products and systems come in various forms and serve different purposes Below are some categories for knowledge management produc......
Q:
A manufacturers annual losses follow a distribution with density function To cover its losses, the manufacturer purchases an insurance policy with an annual deductible of 2. What is the mean of the...
A:
Using the hint we have Therefore......
Q:
1) The government decided to reduce taxes on fast-food to increase revenue. The government assumes that fast-food products have a) An inelastic demand b) An elastic demand c) A demand curve that is...
A:
1 The answer is option B which is An elastic demand Elastic demand is the one in which if the price......
Q:
Shown here is a list published by Electronics Weekly.com of the top five semiconductor companies in the United States by revenue ($ billions). a. Construct a bar chart to display these data. b....
A:
a Bar Graph b Pie Chart c While pie charts are sometimes interest......
Q:
A hundred or so boats go fishing every year for three or four weeks off of the Bering Strait for Alaskan king crabs. To catch these king crabs, large pots are baited and left on the sea bottom, often...
A:
The dot plot tells us several things Out of 103 pots 25 of them a......
Q:
Shown here are the sales data (in $ millions) for U.S. furniture and home furnishing stores from 2012 through 2016 supplied by the U.S. Census Bureau. Using this data: a. Construct a time-series...
A:
a This time series plot for the year 2012 shows up and down swings of sales until October with s......
Q:
Sketch the graphs of the following pdfs and find and sketch the graphs of the cdfs associated with these distributions (note carefully the relationship between the shape of the graph of the pdf and...
A:
a b c......
Q:
Sketch the graphs of the following Poisson distributions. Compute the mean and standard deviation for each distribution. Locate the mean on the graph. Note how the probabilities are graphed around...
A:
a 6 3 mean 6 3 Standard deviation 6 3 2 51 x Prob 0 0018 1 0116 2 0364 3......
Q:
Sketch the graphs of the following on [-, 2]. (a) y = sin 2x (b) y = 2 sin t (c) y = cos(x - /4) (d) y = sec t
A:
a y sin 2x......
Q:
A random sample of 100 students was taken from a large university to study the relationship between GPA and the number of hours of study per week. The following linear regression equation was...
A:
The detailed answer for the above question is provided below The hypothesis to be tested is H0 b1 0......
Q:
Find the Black-Scholes value of a put option on the stock in the previous problem with the same exercise price and expiration as the call option.
A:
Click to View...
Q:
KOM pays the following insurance premiums during 2016: Auto accident and liability insurance: Paid 1/1/16 Coverage period 1/1/16 - 12/31/16 ............... $3,500 Fire, storm, and other casualty...
A:
a Using the accrual method of accounting KOM s 2016 insurance expense deduction is 7 375 3 500 1 875 2 000 The deduction is only 7 375 if the business......
Q:
You are managing a multinational project from your office in Chicago. Half of your project team are from a foreign country but are living in Chicago while working on your project. These people inform...
A:
A Respe......
Q:
The three-station work cell illustrated in figure S7.7, has a product that must go through one of the two machines at station 1 (they are parallel) before proceeding to station 2. (a) What is the...
A:
Converting each capacity to a process time Station 1 60 min......
Q:
1. Given the following financial statement excerpts, capitalize operating leases by creating a lease liability and a right-of-use asset. Contractual Obligations The following table summarizes our...
A:
Click to View...
Q:
You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 4.7 percent for a 60-month loan to buy the car. What will your monthly payments be?...
A:
a Loan amount 84 500 APR 4 7 Monthly interest rate 4 7 12 0 391667 Number of monthly payments 60 As......
Q:
A receiver can determine the distance to a homing transmitter by its signal strength. These signal strengths were measured using a receiver in a car traveling due north. a. Find the equation of the...
A:
a Possible answer y 2 5 2 x 9 5 2 5 2 1 Plot the d......
Q:
Find the vertical distance between a point on the hyperbola (y + 1/2)2 - (x - 2/3)2 = 1 and its nearest asymptote for each x-value shown at right. x-value 5 10 20 40 Distance
A:
The center of the hyperbola is 2 1 and the asymptotes are y 23 x......
Q:
How do you distinguish between temperate rain forest and tropical rain forest? Between savanna and desert?
A:
Temperate rain forest is a coniferous biome with cool weather dense fog and high precipitation......
Q:
An Engineer claims to have designed an internal combustion engine (see Figure-2) that takes in 265000 kJ of heat from a flue gas emission at a temperature of 180 C and generates 15 kWh of electricity...
A:
To determine whether it is advisable to invest money to implement the claimed internal combustion engine for local industries in Victoria we need to a......
Q:
Use the following 8% interest rate factors for this question. Period 1 2 3. 4 Future Value of PI 1.08 1.17 1.25 1.36 .C. The Lady Company has P150,000 in a bank account as of December 31, 2003. If...
A:
The detailed answer for the above question is provided below The answer is c P192 14......
Q:
Derive the shear force and bending moment equation and construct the shear force and bending moment diagram for the beam shown 2 m 10 kN/m 30 KN 40 KN d m Im FIG. P4.38 3 m- E
A:
SOLUTION To derive the shear force V and bending moment M equations and construct the shear force and bending moment diagram for the given beam we ll follow the steps Determine the reactions at the su......
Q:
Given two input integers for an arrowhead and arrow body, print a right-facing arrow. Ex: If the input is: 01 the output is: 1 11 00000111 000001111 00000111 11 1 481694.3045382.qx3zqy7 LAB ACTIVITY...
A:
A Java program that takes two integers as input for the arrowhead an......
Q:
What does the Modulus % Operator do, give example? 2.Declare an integer number "myNumber" and assign the value 15 to it. 3.Write the Java code to check if the integer "myNumber" is Divisible by 3....
A:
1 Modulus Operator The modulus operator in Java denoted as calculates the remainder when one number......
Q:
The UAW (union) filed a representation petition on May 15, 2000, to represent some 650 production workers at Stanadyne Automobile Corporation's plant in Windsor, Connecticut, and the Board scheduled...
A:
Context is very important in Section 7 cases Gurley a......
Q:
Identify one local business that uses a perpetual inventory system and another that uses a periodic system. Interview an individual in each organization who is familiar with the inventory system and...
A:
a The inventory system followed by any local business can be either periodic or perpetual Bothe syst......
Q:
Multiple Choice Questions The following questions concern audit risk. Choose the best response. a. Some account balances, such as those for pensions and leases, are the result of complex...
A:
a 4 Inherent risk b 3 Exist indepen......
Q:
Distinguish between inherent risk and control risk. How do internal controls affect inherent risk and control risk, if at all? What is the role of detection risk?
A:
Inherent risk is associated with the unique characteristics of the business or industry of th......
Q:
The following are items on the inherent risk and control risk questionnaires contained in Exhibits. Categorize each item as belonging on (a) the inherent risk analysis questionnaire or the (b)...
A:
1 Does the company have significant cash flow problems in meeting its current obligations on a timely basis A 2 Are there any restrictions in getting......
Q:
Alexa owns a condominium near Cocoa Beach in Florida. In 2022, she incurs the following expenses in connection with her condo: Insurance $ 3,900 Mortgage interest 10,700 Property taxes 3,000 Repairs...
A:
The total amount of AGI deductions relating to the condo that Alexa may deduct in the current year i......
Q:
Let A be a 4 4 real symmetric matrix with eigenvalues 1 = 1, 2 = 3 = 4 = 0 (a) Explain why the multiple eigenvalue = 0 must have three linearly independent eigenvectors x2, x3, x4. (b) Let x1 be an...
A:
a Since A is symmetric there is an orthogonal matrix that diagonalizes A So A cannot be defective......
Q:
Using De Morgan equivalent gates and bubble pushing methods, redraw the circuit in Figure 2.83 so that you can find the Boolean equation by inspection. Write the Boolean equation. B- C- D- E- Dor...
A:
Y A B C......
Q:
Determine whether the following symbolized arguments are valid or invalid by constructing a truth table for each.
A:
Click to View...
Q:
Prepare journal entries to record the following merchandising transactions of Mason Company, which applies the perpetual inventory system. July 3 Purchased merchandise from OLB Corp. for $ 15,000...
A:
July 3 Merchandise Inventory 15 000 Accounts Payable OLB 15 000 Purchased goods on credit terms 1 10......
Q:
Suppose that a stock price is currently 70 dollars, and it is known that at the end of each of the next two six-month periods, the price will be either 20 percent higher or 20 percent lower than at...
A:
To find the value of a European put option on the stock with the given parameters you can use the bi......
Q:
An company has sales of $50 million growing at 25% YoY with EBITDA margins at 20%. It secures a JV in Year 3 with additional business of $20 million at EBITDA of 12.5% which linearly scales up to $50...
A:
Click to View...
Q:
Auditors are responsible for the quality of the work related to management and control of a. Inherent risk. b. Relative risk. c. Control risk. d. Detection risk.
A:
d D......
Q:
The cash account is included in more than one accounting process because a. All the business processes involve either receiving or paying out cash at some point. b. Cash is the most difficult asset...
A:
a All the busines......
Q:
The following T-account is a summary of the Cash account of Alixon Company. What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? Balance,...
A:
Click to View...
Q:
The total assets of Metlock Inc. are $420,000 and its liabilities are equal to half its total assets. What is the amount of Metlock's shareholders' equity?
A:
Shareholders equity is the residual interest in the assets of a company after deducting its liabi......
Q:
Tablet Company is looking to set up a wholly owned subsidiary firm, which will sell cheap, rugged computers in developing countries. The debt schedule for the firm is predetermined and shown below...
A:
a To calculate the terminal value of the project as of year 2 we need to consider the perpetuity of free cash flows beyond year 2 and the tax shield The free cash flow FCF in year 2 is 200 Since the F......
Q:
As of October 2021, the risk-free rate, represented by annual return on 20-year treasury bond was 3.3 percent, beta value for Walmart stood at 0.51, while the average market return, represented by...
A:
The cost of capital for a company can be calculated using the weighted average cost of capital WACC......
Q:
V(x1, x2, x3, x4) = (x2 x1)(x3 x1)(x3 x2) x (x4 x1)(x4 x2)(x4 x3) Prove this as follows. Given x1, x2, and, x3. define the cubic polynomial P(y) to be P(y) = 1xxx 1 X2 I 1.2 p3. Because P(x1) =...
A:
ANSWER Let s follow the steps outlined in your proof and compute V a b and V a b c as described Define the cubic polynomial P y P y det 1 x1 x1 2 x1 3......
Q:
A firm has the following forecast for these balance sheet items for a project. Accounts receivable will be 12% of sales, inventory will be 7% of sales, accounts payable will be 9% of sales. Sales...
A:
To calculate the investment in Net Working Capital NWC for year 2 you need to determine the changes......
Q:
How does the computation of the financing component differ when delivery is before and after the payment?
A:
If the delivery occurs before payment then the entity discounts the promised consideration amount ba......
Q:
Find the market equilibrium point for the following demand and supply functions. Demand: 2p = - q + 56 Supply: 3p - q = 34
A:
1 2 q 28 1 q 34 3 Required condition 3q 1......
SAT Prep Book Of Advanced Math Problems 1st Edition - ISBN: 1493612077 - Free Book