The goal at U.S. airports handling international flights is to clear these flights within 45 minutes. Lets
Question:
The goal at U.S. airports handling international flights is to clear these flights within 45 minutes. Let’s interpret this to mean that 95% of the flights are cleared in 45 minutes, so 5% of the flights take longer to clear. Let’s also assume that the distribution is approximately normal.
a. If the standard deviation of the time to clear an international flight is 5 minutes, what is the mean time to clear a flight?
b. Suppose the standard deviation is 10 minutes, not the 5 minutes suggested in part (a).
What is the new mean?
c. A customer has 30 minutes from the time her flight lands to catch her limousine. Assuming a standard deviation of 10 minutes, what is the likelihood that she will be cleared in time?
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Step by Step Answer:
Statistical Techniques In Business And Economics
ISBN: 356
16th Edition
Authors: Douglas Lind, William Marchal