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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 $400 per ticket. Airfares were based on thetotal ticket value, which consisted of the price charges 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 $555 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$300 and $470 (to 4 decimals)?

d. What is the cost for the 4% highest domestic airfares?[(round to nearest dollar) (more or less)]

Answer & Explanation Solved by verified expert
4.3 Ratings (574 Votes)
the PDF of normal distribution is 1 2 e xu2 22 standard normal distribution is a normal    See Answer
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