50 points

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.

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

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

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50 pointsA 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.

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50 points

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.