Suppose the monthly rents of all one-bedroom apartments in a small town are known to be normally distributed with a mean equal to $175 a month and standard deviation of $35. Which of the following would be the highest individual rent that you might expect to find?

Question

Quizplus · Accepted Answer

To find the highest individual rent, we need to look for the largest value within one standard deviation above the mean. This can be calculated as:
$175 + $35 = $210
Therefore, the highest individual rent we might expect to find is about $210. Other options can be eliminated because they are either too low (A) or not relevant (C). Option D is not applicable as we have all the information we need.

Suppose the Monthly Rents of All One-Bedroom Apartments in a Small