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statistics

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Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,225 per hour and a standard deviation of $220.

What is the operating cost for the lowest 5 percent of the airplanes?

  • statistics - ,

    According to the standard bell curve and the empirical rule, the lowest 5% would be 2 standard deviations below the mean making the operating cost of the lowest 5% of airplanes equal to $1785

  • statistics correction - ,

    Z = (score-mean)/SD

    Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the Z score related to that proportion.

    For the lowest 5%, you need a Z score of -1.645.

    Insert the values in the above equation to solve for the score.

  • statistics - ,

    .59

  • statistics - ,

    Assume that the hourly cost to operate a commercial airplane follows the normal distribution with a mean of $5,018 per hour and a standard deviation of $493.

    What is the operating cost for the lowest 1% of the airplanes? (Round z value to 2 decimal places and round final answer to nearest whole dollar.)

    Operating cost

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