Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please if any one can explain the last part, D. How do you get the number from the table. The mean cost of domestic airfares
Please if any one can explain the last part, D. How do you get the number from the table.
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 $110. Use Table 1 in Appendix B. a. What is the probability that a domestic airfare is $540 or more (to 4 decimals)? | 0.0668 b. What is the probability that a domestic airfare is $245 or less (to 4 decimals)? .1190 c. What if the probability that a domestic airfare is between $320 and $510 (to 4 decimals)? 5822 d. what is the cost for the 496 highest domestic airfares? (rounded to nearest dollar) 581.8 Hide Feedback Partially Correct 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 $110. Use Table 1 in Appendix B. a. What is the probability that a domestic airfare is $540 or more (to 4 decimals)? | 0.0668 b. What is the probability that a domestic airfare is $245 or less (to 4 decimals)? .1190 c. What if the probability that a domestic airfare is between $320 and $510 (to 4 decimals)? 5822 d. what is the cost for the 496 highest domestic airfares? (rounded to nearest dollar) 581.8 Hide Feedback Partially Correct
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started