Question

The mean cost of domestic airfares in the United States rose to an all-time high of $380 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 $555 or more (to 4 decimals)?

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

**d.** What is the cost for the 3% highest domestic
airfares? (rounded to nearest dollar

Answer #1

Given,

= 380 , = 100

We convert this to standard normal as

P(X < x) = P(Z < ( x - ) / )

a)

P(X >= 555) = P(Z >= (555 - 380) / 100)

= P(Z >= 1.75)

= 1 - P(Z < 1.75)

= 1 - 0.9599

= **0.0401**

b)

P(X <= 255) = P(Z <= (255 - 380) / 100)

= P(Z <= -1.25)

= **0.1056**

c)

We have to calculate x such that P(X > x) = 0.03

P(X < x) = 1 - 0.03

P(X < x) = 0.97

P(Z < ( x - ) / ) = 0.97

From Z table z-score for the probability of 0.97 is 1.8808

( x - ) / = 1.8808

( x - 380) / 100 = 1.8808

Solve for x

**x = 568**

The mean cost of domestic airfares in the United States rose to
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a. What is the probability that a domestic
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The mean cost of domestic airfares in the United States rose to
an all-time high of $380 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.
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airfare is $545 or more (to 4 decimals)?
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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
$120. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $560 or more (to 4 decimals)?
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The mean cost of domestic airfares in the United States rose to
an all-time high of $390 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.
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The mean cost of domestic airfares in the United States rose to
an all-time high of $395 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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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
$115. Use Table 1 in Appendix B.
a. What is the probability that a domestic
airfare is $560 or more (to 4 decimals)?
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total ticket value, which consisted of the price charged by the
airlines plus any additional taxes and fees. Assume domestic
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airfare is $545 or more (to 4 decimals)?
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