Ryanair charges a mean base fare of $59. In addition, the airline charges for checking in at the airport, carry-on baggage, checked baggage, and inflight food/beverage. These additional charges average $39 per passenger. Suppose a random sample of 60 passengers is taken to determine the total cost of their flight on Ryanair. The population standard deviation of total flight cost is known to be $25. a)What is the probability the sample mean will exceed $100? b)What is the probability the sample mean will be within $10 of the population mean cost per flight? c)What is the probability the sample mean will be within $5 of the population mean cost per flight?   Hint: The mean of the total cost per flight is mean base fare plus the mean of additional charges. Note: As a reminder, you must show your work for each question on their corresponding sheet.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.