Average household income is normally distributed

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Suppose that average household income is normally distributed with a mean equal to $72,641 and a standard deviation of $10,000. As an employee of a marketing firm, you are tasked by your supervisor to calculate the dollar amount that should be established if a company wants to market to the highest 10 percent of households by income. Using the Standard Normal distribution table, the highest 10 percent of household incomes corresponds to an annual income of at least:

Reference no: EM132110889

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