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$100. Use Table 1 in Appendix B. a. What is the probability that adomestic airfare is $550 or more (to 4 decimals)? b. What is theprobability that a domestic airfare is $265 or less (to 4decimals)? c. What if the probability that a domestic airfare isbetween $310 and $480 (to 4 decimals)? d. What is the cost for the3% highest domestic airfares? (rounded to nearest dollar)
