please help solve statistics problem?
Posted by admin
Your company is located in New York City and your job requires that you travel by air to many other major cities such as Boston, Chicago, Los Angeles, Detroit, Houston, Dallas, Atlanta, Denver, and Washington, DC. Your average round-trip airfare for the past year has been $465 with a standard deviation of $240. If for your next year’s planning budget you estimate your average air ticket between $395 and $550, what is the probability that the mean, , of your next 36 flights will fall in this range?
P($395 x $550) =
February 17th, 2009 at 8:09 pm
465+240=
465-240=
You catch my drift?
MAke a line and plug it in your graphing calculator
February 18th, 2009 at 12:43 am
this is not possible to answer.
to obtain the answer you need to know the total # flights that gave you the 465 average, known that the lowest was 240 less than the highest.
to explain you may have one flight at 395 and 19 flights at 550, will give you a different average than 1 flight at 550 and 19 at 395. So it is impossible to answer without further info.