**Statistics Problem for Marketing Application****Problem 5:**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 $6,256. If the company plans to target the bottom 18% of the families based on income, find the cutoff income.

From the provided information, Average (µ) = $24596 Standard deviation (σ) = $6256 The company plans…

Answered: 5. An advertising company plans to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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5. 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.