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Answer:
The cutoff sales level is 10.7436 millions of dollars
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
15th percentile:
X when Z has a pvalue of 0.15. So X when Z = -1.047.
The cutoff sales level is 10.7436 millions of dollars
Let us calculate the area of the walk.
Since the width of the walk is 3 feet, and the walk will be placed all the 4 sides,
Length of the plot including walk = 20 + (2 × 3) = 20 + 6 = 26 feet.
Breadth of the plot including walk = 30 + (2 × 3) = 36 feet.
Area of the plot including walk = 26 × 36 square feet.
Area of the plot = 20 × 30 square feet.
Area of the walk = (26 × 36) - (20 × 30)
= 936 - 600
= 336 square feet.
= square yards
= 37.3 square yards
Cost of the walk per square yard = $12.25.
Therefore, total cost of the walk = 12.25 × 37.3 = $456.92.