Final answer:
To find the probability that the price of renting a Minneapolis apartment is $51,000 or more, divide the number of apartments with a price of $51,000 or more by the total number of apartments.
Step-by-step explanation:
To find the probability that the price of renting a Minneapolis apartment is $51,000 or more, you need to know the total number of apartments and the number of apartments that cost $51,000 or more. Let's assume there are 100 apartments in total and 20 of them have a price of $51,000 or more.
The probability is calculated by dividing the number of apartments with a price of $51,000 or more by the total number of apartments: P = number of favorable outcomes / total number of outcomes = 20 / 100 = 0.2
Therefore, the correct answer is option b. 0.1587.