The retail price of 12-pack soda can be characterized as having a normal distribution with a mean of 3.05 dollars and a standard deviation of 0.24. Below what price do you find 40 percent of all 12-packs?

Answer 1

Z = (score-mean)/SD

Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability (.40) and its Z score. Insert data into equation above and solve.