Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. 1. The prices follow normal distribution. Use Excel to plot the density of the prices; You can either use pen and paper or Excel for question 2-5. Please use the z score formula to calculate the question 2-5. 2. What is the probability that a domestic airfare is $550 or more? 3. What is the probability that a domestic airfare is $250 or less?
Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees.
1. The prices follow normal distribution. Use Excel to plot the density of the prices;
You can either use pen and paper or Excel for question 2-5. Please use the z score formula to calculate the question 2-5.
2. What is the
3. What is the probability that a domestic airfare is $250 or less?
4. What if the probability that a domestic airfare is between $300 and $400?
5. What is the cost for the 3% highest domestic airfares?
6. Use Excel
7. What is the 95% confidence interval for a sample containing 50 values?
Uniform probability distribution
Delta Airlines quotes a flight time of 2 hours, 5 minutes for its flights from Cincinnati to Tampa. Suppose we believe that actual flight times are uniformly distributed between 2 hours and 2 hours, 20 minutes.
1. Give a mathematical expression for the probability density function of flight time and the expected value and variance of the distribution;
I need excel sheet of the prices
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