Question

The average daily rate of a hotel in Canada as of August 2018 was $183.65. Assume the average daily rate follows a normal distribution with a standard deviation of $23.70.

Answer 1

To calculate the z-score, use the formula z = (x - μ) / σ. For a hotel's daily rate of $200, the z-score is approximately 0.689.

Step-by-step explanation:

The subject of this question is Mathematics and the grade level is High School.

To calculate the z-score of a value, we use the formula: z = (x - μ) / σ

In this case, we are given the average daily rate of a hotel in Canada as $183.65 with a standard deviation of $23.70. Let's say we want to find the z-score for a hotel's daily rate of $200. We can plug in the values into the formula:

1. Substitute the given values: z = (200 - 183.65) / 23.70
2. Calculate the subtraction: z = 16.35 / 23.70
3. Perform the division: z ≈ 0.689

Therefore, the z-score for a hotel's daily rate of $200 is approximately 0.689.