Question

suppose the amount of money families spent on candy for Halloween follows a normal distribution with a population mean of $32 and a population standard deviation of &4.50. 31%of families spent less than hoe much money on candy? the answer rounded to two decimal places.

Answer 1

Solution:
Given in the question
the amount of money families spent on candy for Halloween follows a normal distribution with
Population mean() = $32
Population standard deviation () = $4.50
We need to calculate amount spent by 31% of families spent less than how much money on candy which can be calculated as
p-value = 0.31
From Z table we found Z-score = -0.4959
So amount spent can be calculated as
Amount spent = + Z-score * = 32 - 0.4959*4.50 = 32 - 2.23 = $29.77
so 31% of families spent less than $29.77 money on candy.