You have heard that customers will try a new caterer if the price is 20% below their existing caterer. Your competitor prices a
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Answer:
a) 4,706 scored between 60 and 80
b) A score of 90.6.
c) 81th percentile.
Step-by-step explanation:
When the distribution is normal, we use the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this question, we have that:
A. About how many scored between 60 and 80?
Proportion:
This is the pvalue of Z when X = 80 subtracted by the pvalue of Z when X = 60. So
X = 80
has a pvalue of 0.6293
X = 60
has a pvalue of 0.1587
0.6293 - 0.1587 = 0.4706
How many?
0.4706 out of 10,000, so
0.4706*10000 = 4706
4,706 scored between 60 and 80.
B. Approximately what score did only the top 15% exceed?
The 85th percentile, which is X when Z has a pvalue of 0.85. So X when Z = 1.037.
A score of 90.6.
C. Find the percentile rank of the person who scored 88.
This is the pvalue of Z when X = 88. So
has a pvalue of 0.8078
So, rounding up, the 81th percentile.