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What percentage of the expenditures are less

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Reference no: EM132461734

Assuming that the monthly food expenditures of families of a certain size in one economic group are approximately normally distributed with a mean of $130 and a standard deviation of $20:

a. What percentage of the expenditures are less than $100? Interpret (100-130)/20= -1.5 %

b. What percentage of the expenditures are more than $145? Interpret

c. What percentage of the expenditures are between 55 and 85? Interpret

d. What is the value of the expenditures that lies in the 8th percentile? Interpret

e. What is the value of the expenditures that lies in the 88th percentile? Interpret

Reference no: EM132461734

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