Question

Dani is looking to find a close condo to the university campus. She learns that the mean rent for a condo is $950, and the standard deviation is $225. The data found is normally distributed. About what percent of the population has a rent price between $725 and $1175?

Answer 1

Using the empirical rule, approximately 68% of condos have rent prices between $725 and $1175, as they fall within 1 standard deviation of the mean in a normal distribution.

Step-by-step explanation:

To calculate the percentage of condos with rent prices between $725 and $1175 using the mean of $950 and the standard deviation of $225, we use the empirical rule of normal distribution or z-scores.

Firstly, we determine the number of standard deviations each rent price is away from the mean:

• Lower rent ($725) is $950 - $725 = $225 away from the mean, which is 1 standard deviation.
• Upper rent ($1175) is $1175 - $950 = $225 away from the mean, which is also 1 standard deviation.

Since the data is normally distributed, about 68% of the data lies within 1 standard deviation of the mean. Therefore, approximately 68% of the condos have rent prices between $725 and $1175.