SOLUTION: A consumer survey indicates that the average household spends μ =$155 on groceries each week. The distribution of spending amounts is approximately normal with a standard devi
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-> SOLUTION: A consumer survey indicates that the average household spends μ =$155 on groceries each week. The distribution of spending amounts is approximately normal with a standard devi
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Question 1095830: A consumer survey indicates that the average household spends μ =$155 on groceries each week. The distribution of spending amounts is approximately normal with a standard deviation σ =$25. Based on this distribution,
What proportion of the population spends more than $175 per week on groceries?
How much money do you need to spend on groceries each week to be in the top 20% of the distribution?
How much does your family spend per week on groceries, what is your family’s percentile? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! z>(x-mean)/sd
>(175-155)/25 or >20/25
that probability is 0.2119
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top 20% is the 80th percentile, and that z is +0.845
0.845=(x-155)/25
multiply by 25 both sides
x-155=21.13
x=$176.13 or more
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