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.
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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.)
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
