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Monthly rental rate for one-bedroom apartments

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Reference no: EM131319541

In January 2011, the average monthly rental rate for one-bedroom apartments in a certain city was $783. Suppose rental rates across all one-bedroom apartments in this city follow approximately a normal distribution, with a standard deviation of $170. Find the approximate proportion of one-bedroom apartments for which the rental rate:

a. is at least $1000 a month.

b. is less than $500 a month.

c. is between $500 and $1000 a month.

Reference no: EM131319541

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