A family is considering a move from a Midwestern city to a city in California. The distribution

Question:

A family is considering a move from a Midwestern city to a city in California. The of housing costs where the family currently lives is normal, with mean $105,000 and standard deviation $18,200. The of housing costs in the California city is normal with mean $235,000 and standard deviation $30,400. The family’s current house is valued at $110,000.
a. What percentage of houses in the family’s current city cost less than theirs?
b. If the family buys a $200,000 house in the new city, what percentage of houses there will cost less than theirs?
c. What price house will the family need to buy to be in the same percentile (of housing costs) in the new city as they are in the current city?

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...