Questions: The mean monthly rent of students at Oxnard University is 970 with a standard deviation of 204. (a) John's rent is 1,390. What is his standardized z-score? (Round your answer to 3 decimal places.)
Transcript text: The mean monthly rent of students at Oxnard University is $\$ 970$ with a standard deviation of $\$ 204$. (a) John's rent is $\$ 1,390$. What is his standardized $z$-score? (Round your answer to 3 decimal places.)
Solution
Solution Steps
Step 1: Identify the Given Values
We are given the following values:
Mean monthly rent, \(\mu = 970\)
Standard deviation, \(\sigma = 204\)
John's rent, \(X = 1390\)
Step 2: Calculate the Z-Score
The formula for calculating the standardized \(z\)-score is: