Explanation Given information: Mean μ = $ 12 . Standard deviation σ = 2.50 . Calculation : Find the z -value that corresponds to the 85th percentile. Since the 85 t h percentile corresponds to an area of 0.85 and the area under the normal curve from − ∞ to 0 is 0.5 due to symmetry. So, from Appendix D the value of z for which the area is 0.85 − 0.5 = 0.35 is z = 1.0364 . Consider, x be the random variable that is distributed normally. Use the transformation formula z = x − μ σ to calculate the price

19th Edition

ISBN: 9780136572671

Author: BITTINGER

Publisher: PEARSON C

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Chapter 5, Problem 25T

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To find: The price of the haddock that corresponds to the 85^t^h percentile.

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