2. According to a report, the average cost to rent a full-size car is $150 per...

 

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2. According to a report, the average cost to rent a full-size car is $150 per day. Suppose that the distribution of this rental cost is normally distributed with a population standard deviation of $14.80. Answer the following questions. a. What is the probability that a randomly selected rental car costs more than $160 per day? (1 Mark) b. What is the probability that a randomly selected rental car costs between $170 and $185 per day? (2 Marks) c. What is the cut-off cost for the rental car if only 10% of middle-income Malaysian (M40) afford to pay? (2 Marks) 2. According to a report, the average cost to rent a full-size car is $150 per day. Suppose that the distribution of this rental cost is normally distributed with a population standard deviation of $14.80. Answer the following questions. a. What is the probability that a randomly selected rental car costs more than $160 per day? (1 Mark) b. What is the probability that a randomly selected rental car costs between $170 and $185 per day? (2 Marks) c. What is the cut-off cost for the rental car if only 10% of middle-income Malaysian (M40) afford to pay? (2 Marks)