Suppose the Round-Trip Airfare Between Boston and Orlando Follows the Normal

question 15

Multiple Choice

Suppose the round-trip airfare between Boston and Orlando 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 Boston and San Francisco will be less than $300?

• A) 0.4286
• B) 0.1015
• C) 0.2005
• D) 0.3192

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Definitions:

Depository Financial Institution

A financial institution legally allowed to accept monetary deposits from consumers, such as banks and credit unions.

Secondary Market

Collection of financial markets in which previously issued securities are traded among investors.

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Unsecured corporate bond.

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The perception of a person's or organization's financial integrity and ability to meet monetary obligations, affecting their access to capital.