Question
In: Statistics and Probability
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to an all-time high of $385 per ticket (Bureau of Transportation Statistics website, November 2, 2012 ). 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 $110.
a. What is the probability that a domestic airfare is $550 or more (to 4 decimals)?
b. What is the probability that a domestic airfare is $250 or less (to 4 decimals)?
c. What if the probability that a domestic airfare is between $300 and $500 (to 4 decimals)?
d. What is the cost for the 3% highest domestic airfares? (rounded to nearest dollar)
Solutions
Expert Solution
From Z-table, Lookup for Z-value corresponding to area 0.03 to the right of the normal curve.
orchestra answered 2 years agoRelated Solutions
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $370 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
$120. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $550 or more (to 4 decimals)?
b. What is the...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $400 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
$120. Use Table 1 in Appendix B.
What is the probability that a
domestic airfare is $530 or more (to 4 decimals)?
b. What is the probability...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $400 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
$120. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $560 or more (to 4 decimals)?
b. What is the...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $385 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
$120. Use Table 1 in Appendix B. a. What is the probability that a
domestic airfare is $560 or more (to 4 decimals)? b. What is the...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $375 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
$100. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $540 or more (to 4 decimals)?
b. What is the...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $385 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
$110.
(a)
What is the probability that a domestic airfare is $561 or more?
(Round your answer to four decimal places.)
(b)
What is the probability that...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $370 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
$100. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $530 or more (to 4 decimals)?
b. What is the...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $400 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
$115. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $560 or more (to 4 decimals)?
b. What is the...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $400 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
$105. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $530 or more (to 4 decimals)?
b. What is the...
The mean cost of domestic airfares in the United States rose to an all-time high of...
The mean cost of domestic airfares in the United States rose to
an all-time high of $400 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
$100. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $540 or more (to 4 decimals)?
b. What is the...
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