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Problem 4. Pricing games An author of children's online educational games wants to use statistics to decide on the price that each game should sell

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Problem 4. Pricing games An author of children's online educational games wants to use statistics to decide on the price that each game should sell for. After surveying similar games sold by competitors, the author nds that the price of this type of games is normally distributed with a mean price of $18.00 and a standard deviation of $4.25. a. If the author of the games wants to set a price, such that 90% of the competitors' prices exceed the author's price, what price should she set? Hint: Sketch a normal distribution graph that contains the information given in this question. [ 5 marks] I. If the author wants to price her games, so as to be in the middle 80% range of her com petitors' prices, what should the maximum game price he and what should the minimum game price be? Hint: Hint: Sketch a normal distribution graph that contains the information given in this question. [5 marks]

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