A company is offering 401k matching retirement plan for its employees who stay with the company for more than 10 years. The company's CFO finds that the average retirement account holds $490,000, with a standard deviation of $55,000, distributed normally. Use Excel to calculate the amount of money that separates the lowest 20% of the means of retirement accounts from the highest 80% in a sampling of 80 employees.  Round x¯ to two decimal places.

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A company is offering 401k matching retirement plan for its employees who stay with the company for more than 10 years. The company's CFO finds that the average retirement account holds $490,000, with a standard deviation of $55,000, distributed normally.

Use Excel to calculate the amount of money that separates the lowest 20% of the means of retirement accounts from the highest 80% in a sampling of 80 employees. 

Round x¯ to two decimal places. 

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A company is offering 401k matching retirement plan for its employees who stay with the company for more than 10 years.
The company's CFO finds that the average retirement account holds $490,000, with a standard deviation of $55,000,
distributed normally.
Use Excel to calculate the amount of money that separates the lowest 20% of the means of retirement accounts from the
highest 80% in a sampling of 80 employees.
Round a to two decimal places.
Provide your answer below:
x = $
Transcribed Image Text:Question A company is offering 401k matching retirement plan for its employees who stay with the company for more than 10 years. The company's CFO finds that the average retirement account holds $490,000, with a standard deviation of $55,000, distributed normally. Use Excel to calculate the amount of money that separates the lowest 20% of the means of retirement accounts from the highest 80% in a sampling of 80 employees. Round a to two decimal places. Provide your answer below: x = $
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