Answer:
The purchase value at the 30th percentile=34.24
Step-by-step explanation:
We are given that
Mean,[tex]\mu=41.34[/tex]
Standard deviation,[tex]\sigma=13.54[/tex]
We have to find the purchase value at the 30th percentile.
[tex]xth percentile =\mu+Z\times \sigma[/tex]
Where Z is the critical value of x% confidence interval
x=30
Critical value of Z at 30% confidence interval=-0.5244
Using the formula
30th percentile=[tex]41.34+(-0.5244)(13.54)[/tex]
30th percentile=[tex]41.34-7.100376[/tex]
30th percentile[tex]\approx 34.24[/tex]
Hence, the purchase value at the 30th percentile=34.24
