5. An advertising company plans to market a product to low-income families. A study states that for a particular area, the average income per family is $24,596 and the standard deviation is $6256. If the company plans to target the bottom 18% of the families based on income, find the cutoff income.

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**Statistics Problem for Marketing Application**

**Problem 5:**
An advertising company plans to market a product to low-income families. A study states that for a particular area, the average income per family is $24,596 and the standard deviation is $6,256. If the company plans to target the bottom 18% of the families based on income, find the cutoff income.
Transcribed Image Text:**Statistics Problem for Marketing Application** **Problem 5:** An advertising company plans to market a product to low-income families. A study states that for a particular area, the average income per family is $24,596 and the standard deviation is $6,256. If the company plans to target the bottom 18% of the families based on income, find the cutoff income.
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