Assume that the mean hourly cost to operate a commercial air

Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,350 per hour and a standard deviation of $255.

What is the operating cost for the lowest 6 percent of the airplanes? (Round z value to 2 decimal places. Omit the \"$\" sign in your response.)

Solution

Find the z-value with a left tail of 6%.
invNorm(0.06) = -1.5548
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Find the corresponding cost:

x = z*s + u
x = -1.5548*255 + 2350
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x = $1953.52