27.Product Marketing An advertising company plans to market a product to low-income families. A study states...

27.Product Marketing An advertising company plans to market a product to low-income families. A study states that for a particular area, the average income per family is $24,596 and the standard deviation is $6256. If the company plans to target the bottom 18% of the families based on income, find the cutoff income. Assume the variable is normally distributed.

Answer is 18,840.48 Please show work especially on how you get -0.92 because the other problems on here don't do that. I understand it's a Z score but it doesn't correspond to 0.32. Thank you

Solutions

Expert Solution

Let's check above standard normal table , 0.18 is corresponding to -0.92.(on row 0.02 , and column -0.9) hence it is -0.92

orchestra answered 2 years ago

Next > < Previous

Related Solutions

In a survey of 99 families in Karachi, 45 were low income families who at some...

In a survey of 99 families in Karachi, 45 were low income families who at some point in time were involved in electricity theft. 13 were low income families who never did any violation. 16 were high income families who involved in electricity theft, and 25 high income families never did any violation. If One of these subject is randomly selected, what is the probability of: i. Low income families or someone who did electricity theft. ii. Low income families...

To increase attendance, the marketing department for a major league baseball team targeted advertising toward families,...

To increase attendance, the marketing department for a major league baseball team targeted advertising toward families, children, and females in order to attract more attendees. Past figures showed an average per game of 58% male (age 12 and over), 28% female (age 12 and over), and 14% children (under 12). Therefore, in the past, an average per game of 42% were female or children and the goal of the advertising was to improve that percentage. After two months of advertising,...

Eren Marketing Company sells specialty products( jewellery) to high income families with high social status. The...

Eren Marketing Company sells specialty products( jewellery) to high income families with high social status. The market is highly competitive and it is very hard to differentiate the products. Explain the 4P's, explain how the company can offer value, and explain how to build long term relations with the customers.

In 2011, the national percent of low-income working families had an approximately normal distribution with a...

In 2011, the national percent of low-income working families had an approximately normal distribution with a mean of 31.3% (The Working Poor Families Project, 2011). Although it has remained slow, some politicians now claim that the recovery from the Great Recession has been steady and noticeable. As a result, it is believed that the national percent of low-income working families is significantly lower now in 2014 than it was in 2011. To support this belief, a recent spring 2014 sample...

How would Colgate-Palmolive vary its marketing strategies for product lines in low income, emerging markets?

How would Colgate-Palmolive vary its marketing strategies for product lines in low income, emerging markets? Discuss using each elements of the marketing mix.

The responsibilities of product marketing manager include communicating a product’s value to the market. Product marketing...

The responsibilities of product marketing manager include communicating a product’s value to the market. Product marketing managers create marketing materials for communicating product features, in addition to developing marketing tools and campaigns for attracting and keeping new and existing customers. A marketing manager is involved in long-term sale of a product through effective advertising. With this in mind, pick any product of your choice and write a reflection on effective advertisement for the product. Also, provide answers to the following...

A) why is Medicaid considered a "safety net" for low-income families? what does this mean? Use...

A) why is Medicaid considered a "safety net" for low-income families? what does this mean? Use your own words in your explanation B) explain the concept of the "poverty trap" and how this impacts low-income families in the U.S.

Kathy Lee Gifford is very popular in America.She decided to launch a clothesline for low-income families...

Kathy Lee Gifford is very popular in America.She decided to launch a clothesline for low-income families in America. Like other clothing businesses, she decided to seek an oversees business where she can get the garment made, while at the same time give jobs to citizens of a poor county.In her research, she discovered that she could have the clothes made the less costly in Thailand.She contacted her attorney who then entered into an agreement with a Thailand manufacturing company, who...

A large school district claims that 80% of the children are from low-income families. 130 children...

A large school district claims that 80% of the children are from low-income families. 130 children from the district are chosen to participate in a community project. Of the 130 only 72% are from low-income families. The children were supposed to be randomly selected. Do you think they really were? a. The null hypothesis is that the children were randomly chosen. This translates into drawing times Processing your submission ... Tries 0/3 at random with replacement without replacement Processing your...

The eligibility of Medicaid varies over states, particularly for disabled people low-income elderly low-income pregnant women...

The eligibility of Medicaid varies over states, particularly for disabled people low-income elderly low-income pregnant women low-income children

Subjects