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The mean cost of domestic airfares in the United States rose to an all-time high of...

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Basic Math

The mean cost of domestic airfares in the United States rose toan all-time high of $375 per ticket. Airfares were based on thetotal ticket value, which consisted of the price charged by theairlines plus any additional taxes and fees. Assume domesticairfares are normally distributed with a standard deviation of$120. Use Table 1 in Appendix B.

a. What is the probability that a domestic airfare is $540 ormore (to 4 decimals)?

b. What is the probability that a domestic airfare is $250 orless (to 4 decimals)?

c. What if the probability that a domestic airfare is between$310 and $490 (to 4 decimals)?

d. What is the cost for the 2% highest domestic airfares?(rounded to nearest dollar)

Answer & Explanation Solved by verified expert
3.6 Ratings (568 Votes)
Solution Given that mean 375standard deviation 120aPx 540 1 Px540 1 Px 540    See Answer
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