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e mean cost of domestic airfares in the United States rose to an all-time high of $400 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines ditional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $100. Use Table 1 in Appendix B. What is the probability that a domestic airfare is $560 or more (to 4 decimals)? What is the probability that a domestic airfare is $255 or less (to 4 decimals)? - What if the probability that a domestic airfare is between $320 and $470 (to 4 decimals)? 1. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar) or more

e mean cost of domestic airfares in the United States rose to an all-time high of $400 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines ditional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $100. Use Table 1 in Appendix B. What is the probability that a domestic airfare is $560 or more (to 4 decimals)? What is the probability that a domestic airfare is $255 or less (to 4 decimals)? - What if the probability that a domestic airfare is between $320 and $470 (to 4 decimals)? 1. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar) or more

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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The mean cost of domestic airfares in the United States rose to an all-time high of $400 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 $560 or more (to 4 decimals)? b. What is the probability that a domestic airfare is $255 or less (to 4 decimals)? c. What if the probability that a domestic airfare is between $320 and $470 (to 4 decimals)? d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar) $ or more
Transcribed Image Text:The mean cost of domestic airfares in the United States rose to an all-time high of $400 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 $560 or more (to 4 decimals)? b. What is the probability that a domestic airfare is $255 or less (to 4 decimals)? c. What if the probability that a domestic airfare is between $320 and $470 (to 4 decimals)? d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar) $ or more
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Given data,μ=400σ=100

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