Question
Asked Oct 6, 2019
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An advertising company plans to market a product to low - income families. A study states that for a particular area, the average income per family is $24,596 and the standard deviation is $6256. If the company plans to target the bottom 18% of the families based on income, find the cutoff income. Assume the variable is normally distributed.

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Step 1

Given info:

It is given that the mean income per family, µ = $24,596

The standard deviation, σ&n...

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