2. An advertising company plans to market a product to low-income families. A study states that for a particular area, the mean income per family is $24,596 and the standard deviation is $6,256. Assume the variable is normally distributed. Find the probability that a randomly selected family whose income is; i. Less than $20,000. ii. If the company plans to target the bottom 18% of the families based on income, find the cutoff income.
2. An advertising company plans to market a product to low-income families. A study states that for a particular area, the mean income per family is $24,596 and the standard deviation is $6,256. Assume the variable is normally distributed. Find the probability that a randomly selected family whose income is; i. Less than $20,000. ii. If the company plans to target the bottom 18% of the families based on income, find the cutoff income.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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