A high end store is looking to open new stores, but requires that 85% of the households in a community have an income of $90,000 or more in order to support the store. If the household incomes in a certain community are normally distributed with a mean of $98,000 and a standard deviation of $5,000, will the store open in that community? Explain why or why not.
A high end store is looking to open new stores, but requires that 85% of the households in a community have an income of $90,000 or more in order to support the store. If the household incomes in a certain community are normally distributed with a mean of $98,000 and a standard deviation of $5,000, will the store open in that community? Explain why or why not.
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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Step 1
Let X= income of the households
Given that X is normally distributed with mean= 98000 and standard deviation= 5000
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