Reference no: EM131671142

Question: Runzheimer International publishes business travel costs for various cities throughout the world. In particular, they publish per diem totals, which represent the average costs for the typical business traveler including three meals a day in business-class restaurants and single-rate lodging in business-class hotels and motels. If 86.65% of the per diem costs in Buenos Aires, Argentina, are less than $449 and if the standard deviation of per diem costs is $36, what is the average per diem cost in Buenos Aires? Assume that per diem costs are normally distributed.