Suppose the round-trip airfare between Philadelphia and Los Angeles a month before the departure date follows the normal probability distribution with a mean of $387.20 and a standard deviation of $68.50. What is the probability that a randomly selected airfare between these two cities will be less than $300?

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To find the probability that a randomly selected airfare is less than $300, we use the Z-score formula: $Z = \frac{X - \mu}{\sigma}$, where $X$ is the value ($300), $\mu$ is the mean ($387.20), and $\sigma$ is the standard deviation ($68.50). Plugging in the values, we get $Z = \frac{300 - 387.20}{68.50} = -1.27$. Looking up this Z-score in a standard normal distribution table or using a calculator gives us a probability of approximately 0.1020.

Suppose the Round-Trip Airfare Between Philadelphia and Los Angeles a Month