Carson bought 2.5 pounds of gummy bears for $2.75 per pound. How much did he spend on gummy bears? (Round your answer to the nea
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a. This information is given to you.
b. We want to find
so we first transform to the standard normal random variable
with mean 0 and s.d. 1 using
where are the mean/s.d. of
. Now,
where is the CDF for
.
c. The 76th percentile is the value of such that
Transform to
and apply the inverse CDF of
.