Three friends are renting
1 answer:
It is given that:
Monthly Rent = A
Total Money Paid to Landlord = Y
The landlord requires initial payment to include:
- 1st month's rent
month's rent or 50% of monthly rent for Security Deposit
- 40% of monthly rent for utility bills
- 5% of monthly rent for health club
- 13% of monthly rent per person for other services
Also, Total Amount Paid to the Landlord = $2574
Number of People Sharing the Apartment = 3
Basis the above information,
Y = (100% * A) + (50% * A) + (40% * A) + (5% * A) + (13% * A * 3)
⇒ Y = A + (0.5 * A) + (0.4 * A) + (0.05 * A) + (0.39 * A)
⇒ Y = A + (0.5 * A) + (0.4 * A) + (0.05 * A) + (0.39 * A)
⇒ Y = 2.34 * A
Substituting the value of Y to determine A
⇒ 2,574 = 2.34 * A
⇒ A = 1,100
Hence, the monthly rent is $1,100
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Answer:
a)
b) 69.764
Step-by-step explanation:
1) Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
2) Part a
Let X the random variable that represent the heights of a population, and for this case we know the distribution for X is given by:
Where and
We are interested on this probability
And the best way to solve this problem is using the normal standard distribution and the z score given by:
If we apply this formula to our probability we got this:
And we can find this probability on this way:
And in order to find these probabilities we can find tables for the normal standard distribution, excel or a calculator.
3) Part b
For this part we want to find a value a, such that we satisfy this condition:
(a)
(b)
Both conditions are equivalent on this case. We can use the z score again in order to find the value a.
As we can see on the figure attached the z value that satisfy the condition with 0.95 of the area on the left and 0.05 of the area on the right it's z=1.64. On this case P(Z<1.64)=0.95 and P(z>1.64)=0.05
If we use condition (b) from previous we have this:
But we know which value of z satisfy the previous equation so then we can do this:
And if we solve for a we got
So the value of height that separates the bottom 95% of data from the top 5% is 69.764.
