SOLUTION: Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,000 per hour and a standard deviation of $285. What is

Question 924962: Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,000 per hour and a standard deviation of $285.

What is the operating cost for the lowest 5 percent of the airplanes? (Round z value to 2 decimal places. Omit the "$" sign in your response.)

Operating cost?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
mean of $2,000 per hour and a standard deviation of $285
inv(.05)= 1.64
-1.64(285) + 2000 = X = 1.532.6
operating cost for the lowest 5 percent of the airplanes ≤ $1,532 per hour
RELATED QUESTIONS
Assume that the hourly cost to operate a commercial airplane follows the normal... (answered by robertb)

Assume that the mean hourly cost to operate a commercial airplane follows the normal... (answered by Boreal)

Assume that the hourly cost to operate a commercial airplane follows the normal... (answered by stanbon)

Assume that the mean hourly cost to operate a commercial airplane follows the normal... (answered by stanbon)

Information from the American Institute of Insurance indicates the mean amount of life... (answered by Boreal)

Cost of domestic airfare follows a normal distribution with a mean of $385 dollars and a... (answered by stanbon)

assume that airplane engines operate independently of each other and that at least half... (answered by Fombitz)

The mean amount purchased by a typical customer at Churchill's Grocery Store is $23.50... (answered by robertb)