Question

In: Statistics and Probability

According to the Air Transport Association of America, the average operating cost of an MD-80 jet...

According to the Air Transport Association of America, the average operating cost of an MD-80 jet airliner is $2,087 per hour. Suppose the operating costs of an MD-80 jet airliner are normally distributed with a standard deviation of $160 per hour.

(Round the value of z to 2 decimal places. Round your answers to 2 decimal places.)

(a) At what operating cost would only 23% of the operating costs be less?

$


(b) At what operating cost would 65% of the operating costs be more?

$


(c) What operating cost would be more than 85% of operating costs?

$

Solutions

Expert Solution

Let X denotes the operating cost of a randomly selected MD-80 jet airliner.

Here,

X ~ Normal(2087, 1602)

a)

b)

c)


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