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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 $380 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$100. Use Table 1 in Appendix B.

a. What is the probability that a domesticairfare is $545 or more (to 4 decimals)?

b. What is the probability that a domesticairfare is $255 or less (to 4 decimals)?

c. What if the probability that a domesticairfare is between $320 and $490 (to 4 decimals)?

d. What is the cost for the 5% highest domesticairfares? (rounded to nearest dollar)

Answer & Explanation Solved by verified expert
4.4 Ratings (824 Votes)
380sd 100a PZ 165 1 PZ    See Answer
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