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 th 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 $545 or more (to 4 decimals)? b. What is the probability that a domestic airfare is $240 or less (to 4 decimals)? c. What if the probability that a domestic airfare is between $310 and $480 (to 4 decimals)? d. What is the cost for the 2% highest domestic airfares? (rounded to nearest dollar) Select your answer - or Chon Bu TABLE 1 CUMULATIVE PROBABILITIES FOR THE STANDARD NORMAL DISTRIBUTION (Continued) Cumulative probability Entries in the table give the area under the curve to the left of the value. For example, for 2- 1.25, the cumulativo probability is 8944 0 2 2 ,00 .01 .02 .03 .04 .05 .06 .07 .08 .09 .0 .1 2 3 .4 .5000 .5398 5793 .6179 .6554 -5080 5478 5871 6255 6628 5120 5517 5910 .6293 .6664 5160 5557 5948 .6331 6700 5199 5596 5987 .6368 6736 5239 5636 .6026 .6406 .6772 5279 5675 6064 .6443 .6808 5319 5714 .6103 .6480 6844 5359 5753 6141 .6517 .6879 5040 5438 5832 ,6217 6591 .6950 .7291 .7611 -7910 .8186 5 .6 17 .8 .9 .6915 .7257 .7580 .7881 8159 .6985 7324 7642 .7939 .8212 .7019 .7357 .7673 .7967 .8238 7054 .7389 .7704 -7995 8264 .7088 .7422 7734 .8023 .8289 .7123 .7454 .7764 .8051 8315 .7157 7486 17794 8078 8340 -7190 7517 .7823 8106 8365 .7224 17549 .7852 .8133 .8389 1.0 .8413 .8643 8849 9032 9192 .8438 .8665 8869 .9049 .9207 8461 8686 8888 9066 9222 8485 .8708 8907 9082 9236 .8508 8729 .8925 9099 9251 8531 8749 8944 9115 9265 .8554 .8770 8962 9131 9279 8577 8790 8980 9147 9292 8599 8810 8997 9162 9306 .8621 8830 .9015 9177 9319 13 14 1.5 1.6 1.7 1.8 1.9 9332 .9452 9554 .9641 .9713 .9345 9.463 9564 .9649 9719 9370 9484 9582 59664 .9732 9382 9495 .9591 .9671 .9738 9394 .950S 9599 9678 .9744 9406 9515 9608 .9686 9750 9418 9525 19616 9693 -9756 .9429 9535 .9625 99699 9761 9441 9545 19633 .9706 9767 9778 9826 20 2.1 22 23 2.4 9772 9821 .9861 9893 9918 .9357 9474 .9573 94656 .9726 9783 9830 9868 9898 .9922 .9941 9956 9967 9976 5982 9987 9788 .9834 9871 9901 .9925 9793 9838 9875 9904 .9927 .9798 9842 9878 9906 9929 .9803 9846 .9881 9909 9931 .9808 9850 9884 9911 9932 9812 9854 9887 -9913 9934 .9817 9857 9890 9916 9936 9896 9920 9940 9949 9462 2.5 2.6 2.7 28 2.9 9938 9953 9965 9974 9981 9943 9957 .9968 9977 .9983 9966 9975 .9982 9945 .9959 .9969 9977 9984 99-16 9950 .9970 9978 9984 9948 99961 9971 .9979 9985 9972 .9951 9963 9973 9980 9986 .9952 9964 9974 9981 9986 9979 9985 3.0 9987 9987 9988 9988 9989 9989 9989 9990 9990
