A consumer survey indicates that the average household spends = $185 on groceries each week. The

Question:

A consumer survey indicates that the average household spends μ = $185 on groceries each week. The distribution of spending amounts is approximately normal with a standard deviation of σ = $25. Based on this distribution,

a. What proportion of the population spends more than $200 per week on groceries?

b. What is the probability of randomly selecting a family that spends less than $150 per week on groceries?

c. How much money do you need to spend on groceries each week to be in the top 20% of the distribution?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...