The Average Cost of Renting a Compact Size Car in a Major

question 84

Short Answer

The average cost of renting a compact size car in a major metropolitan area of the U.S.is $51.74 with a standard deviation of $7.48.Assume a normal distribution.If a sample of 20 cities is taken,what is the probability that the sample mean will fall between 47.74 and 55.74?

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Definitions:

Property Insurance

Coverage that provides financial reimbursement to the owner or renter of a structure and its contents in the event of damage or theft.

Intangible Property

Assets that cannot be physically touched or held, such as intellectual property, goodwill, and copyrights.

Physical Form

The tangible aspect or embodiment of something, usually referring to documents or goods that have a material existence.

Repairs

The action of fixing or restoring something that is broken, damaged, or not working properly.