Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
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Chapter 5.2, Problem 16E
To determine
Calculate the mean and standard deviation of annual income.
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The mean cost of domestic airfares in the United States rose to an all-time high of $395 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 $115. Use Table 1 in Appendix B.
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Statistics for Business and Economics
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