Question: solve using textbook formula Assume the room rate for a three-star hotel in a European city follows a normal distribution with a mean of 165

solve using textbook formula

Assume the room rate for a three-star hotel in a European city follows a normal distribution with a mean of 165 euras and a standard deviation of 14 euros. a. What is the probability that a randomly selected three-star hotel has a room rate of 1. less than 160 euros? 2. more than 1/0 euros? 3. exactly 155 euros? 4. between 140 and 171 euros? b. A particular hotel would like to set its rate so that only 40% of hotels in the city will have lower rates. What room rate should the hotel set? a. 1. The probability is [ |. (Round to four decimal places as needed.)

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