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The mean cost of domestic airfares in the United States rose to an all-time high of $395 per ticket. Airfares were based on the total ticket value,

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I don't get this question. Please help.


For D, The choices are more or less.

Screen Shot 2018-05-02 at 8.15.58 PM.png

Screen Shot 2018-05-02 at 8.15.58 PM.png

The mean cost of domestic airfares in the United States rose to an all-time high of $395 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume
domestic airfares are normally distributed with a standard deviation of $120t Use Table 1 in Appendix B. a. What is the probability that a domestic airfare is $545 or more (to 4 decimals)?
iii b. What Is the probability that a domestic airfare ls $240 or less (to 4 decimals)? l {l c. What If the probability that a domestic alrfare Is between $300 and $480 (to 4 decimals)?
l l d. What Is the cost for the 2% highest domestic airfares? (rounded to nearest dollar) sl lo—

Top Answer

A) mu= 395 sigma= 120 X= 545 Z=(X-mu)/sigma 1.25  probability =P(Z>1.25) = 0.105649774 ROUNDED ANSWER IS 0.1056 B) mu=... View the full answer

1 comment
  • For D answer is $ 641 or more
    • narvada
    • May 02, 2018 at 11:00pm

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