Question 1186624: The mean cost of domestic airfares in the United States rose to an all-time high of $390 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 $120.
What is the probability that a domestic airfare is $550 or more (to 4 decimals)?
What is the probability that a domestic airfare is $240 or less (to 4 decimals)?
What if the probability that a domestic airfare is between $300 and $490 (to 4 decimals)?
What is the cost for the 3% highest domestic airfares? (rounded to nearest dollar)
Answer by ikleyn(52896)   (Show Source):
You can put this solution on YOUR website! .
Go to online (free of charge) normal distribution probability calculator
https://onlinestatbook.com/2/calculators/normal_dist.html
Input the given parameters of each part into the appropriate window of the calculator and get the answers
to first three your questions.
The calculator has perfect description and design, so EVERY person, even beginner, may work with it on his or her own,
even having minimum knowledge on the subject.
Happy calculations ( ! )
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// I am not a promoter of this online calculator: my only wish is to teach you to do this simple job on your own,
because the level of complexity of this assignment is as 1 + 2 = 3 (even lower than 2 x 2 = 4).
Playing with this tool, you will gain all missing knowledge on the subject, which you need.
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