Question

A finance magazine did a survey and found that the average American family spends $1,600 on a summer vacation. If the distribution is normal with standard deviation $411, find the amount a family would have spent to be the 80th percentile. PreviousNext

Answer 1

Answer:

$1945

Step-by-step explanation:

Let X be the normal distribution

Kindly find attached a detailed annotation of the solution to the problem.

in the attached document, we found the value that corresponds to  80th percentile, hence we found the value such that the probability that the variable x is lower than this value is 0.8.

Also, from the calculation, we found that the value which corresponds to the 80th percentile is $1945