SOLUTION: Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,400 per hour and a standard deviation of $220.
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Question 724318: Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,400 per hour and a standard deviation of $220.
What is the operating cost for the lowest 6 percent of the airplanes? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,400 per hour and a standard deviation of $220.
What is the operating cost for the lowest 6 percent of the airplanes?
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Find the z-value with a left tail of 6%.
invNorm(0.06) = -1.5548
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Find the corresponding cost:
x = z*s + u
x = -1.5548*220 + 2400
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x = $2057.95
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Cheers,
Stan H.
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