Inter-Island Planes have an average round-trip ticket to Boracay price of P8,000 with a standard deviation of P1,500. Its competitor, Island 2 Island Planes has an average price of P9,000 for the same. Inter-Island Planes can price out Island 2 Island Planes when its actual price is below the competition's average price. What is the probability of Inter-Island pricing out competition?

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Answer Now we can look up the probability corresponding to a zscore of 067 in the standard normal ... View the full answer