SOLUTION: The company�s profit follows a normal distribution with a mean of Php 500 thousands a month, with a standard deviation of Php 50 thousands. What is the lowest 20% of the profit?

SOLUTION: The company�s profit follows a normal distribution with a mean of Php 500 thousands a month, with a standard deviation of Php 50 thousands. What is the lowest 20% of the profit?

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Question 1081966: The company�s profit follows a normal distribution with a mean of Php 500 thousands a month, with a standard deviation of Php 50 thousands. What is the lowest 20% of the profit?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
lowest 20% is at z=-0.84 from the table
-0.84=(x-mean/sd
-0.84=(x-500)/50
-42=x-500
x=458 thousands.
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