Reference no: EM131538117

The county tells us that the dome receives yearly maintenance and the cost of that seems to be bell-shaped with an average cost of $50 million and a standard deviation of $7 million. The year the roof collapsed was particularly bad with a repair of $110 million.  What yearly amount should they budget to cover all but the most expensive 5% of repairs? 

If they budget $60 million what percent of the time will they fail to have enough money for repairs?   

The county also studied attendance of similar events in other cities. They found that out of 55 cities with similar events, 25 cities had attendance of 15 million,  25 had attendance of 20 million, and the rest had attendance of 10 million. At what price should they sell the tickets if the hope to make enough money to  cover maintenance (as calculated in number one)in all but the worst 5% of the years?