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A recent study indicated that the average cost of living for a family of four in various cities across the US was $65,351 with a standard deviation of $7712. A company is thinking about relocating to a city with a lower cost of living. They would like to choose a city in the bottom 30% of those surveyed. What is the cutoff for the cost of living that would make a city eligible for relocation by this company

Respuesta :

Cricetus

Answer:

The correct answer is "57408".

Step-by-step explanation:

Given:

[tex]\mu=65351[/tex]

[tex]\sigma=7712[/tex]

[tex]p=0.15[/tex]

As per the standard table, we know,

[tex]z=-1.03[/tex]

Now,

⇒ [tex]z=\frac{x-\mu}{\sigma}[/tex]

By putting the values, we get

[tex]-1.03=\frac{x-65351}{7712}[/tex]

      [tex]x=57407.64[/tex]

or,

         [tex]=57408[/tex]