Problem: Is it possible to show me step by step how you get the answer in order for me to learn this? Assume that the hourly cost to operate a commercial airplane follows the normal distribution with a mean of $5,635 per hour and a standard deviation of $201.
Required:
Question: What is the operating cost for the lowest 3% of the airplanes? (Round z value to 2 decimal places and round final answer to nearest whole dollar.) Provide your rationale and any supporting data.