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4 August, 12:23

What is the cost for the 3% highest domestic airfares? (rounded to nearest dollar

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Answers (2)
  1. 4 August, 12:34
    0
    Given:

    Mean - 385 per ticket

    Standard Deviation - 110

    P (Z > x) = 0.03

    Value of z to the cumulative probability of 0.03 from the normal distribution table is 1.88

    P (x-u / (standard deviation) > x - 385/110) = 0.03

    That is, (x - 385/110) = 1.88

    Therefore, x = 1.88 * 110+385 = 591.91 or $592
  2. 4 August, 12:35
    0
    P (Z > x) = 0.03Value of z to the cumulative probability of 0.03 from normal table is 1.88P (x-u / (s. d) > x - 385/110) = 0.03That is, (x - 385/110) = 1.88--> x = 1.88 * 110+385 = 591.91

    Round off = $592
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