Question

Marty McFly is a marine sales dealer who finds that the average price of a previously owned boat is $6492. He decides to sell boats that will appeal to the middle 80% of the market in terms of price. Find the maximum and minimum prices of the boats the dealer will sell. The standard deviation is $1025, and the variable is normally distributed.

Part A: Find applicable Z scores: 4pts

Part B: Calculate Minimum price: 3 puts

Part C: Calculate Maximum price: 3 pts

Answer 1