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According to a recent? survey, the average daily rate for a luxury hotel is ?$235.54. Assume the daily rate follows a normal probability distribution with a standard deviation of ?$21.92. Complete parts a through d below.
a. What is the probability that a randomly selected luxury? hotel's daily rate will be less than $ 251?
b. What is the probability that a randomly selected luxury? hotel's daily rate will be more than $ 260?
c. What is the probability that a randomly selected luxury? hotel's daily rate will be between $ 238 and $ 258?
d. The managers of a local luxury hotel would like to set the? hotel's average daily rate at the 90th ?percentile, which is the rate below which 90?% of? hotels' rates are set. What rate should they choose for their? hotel?
The managers should choose a daily rate of ?$
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