According to the Air Transport Association of America, the average operating cost of an MD-80 jet airliner is $2,270 per hour. Suppose the operating costs of an MD-80 jet airliner are normally distributed with a standard deviation of $178 per hour. (Round the value of z to 2 decimal places, e.g. 1.25., Round your answers to 2 decimal places, e.g. 125.31.) (a) At what operating cost would only 23% of the operating costs be less? (b) At what operating cost would 65% of the operating costs be more? (c) What operating cost would be more than 85% of operating costs?

According to the Air Transport Association of America, the average operating cost of an MD-80 jet airliner is $2,270 per hour. Suppose the operating costs of an MD-80 jet airliner are normally distributed with a standard deviation of $178 per hour. (Round the value of z to 2 decimal places, e.g. 1.25., Round your answers to 2 decimal places, e.g. 125.31.) (a) At what operating cost would only 23% of the operating costs be less? (b) At what operating cost would 65% of the operating costs be more? (c) What operating cost would be more than 85% of operating costs?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 1MAD: Analyze Global Airs cost-volume-profit relationships Global Air is considering a new flight between...

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