QuestionThe average grocery spending for Palestinian households is 600 NIS/week with a standard deviation of 120 NIS. What is the percentage of households spending more than 850 NIS/week? What is the probability a household spends 600 NIS/week? What is the maximum spending for a thrifty shopper household (1st quartile)?
$5.94\%$, 1, 519.6 NIS

Studdy Solution
Calculate the maximum amount for a thrifty shopper household.
$$X = 600 - 0.6745 \cdot 120 \approx 600 - 80.94 \approx 519.06$$
The percentage of households who spend more than 850 NIS/week is approximately $1.88\%$.
The probability that a household spends exactly 600 NIS/week on groceries is 0.
The maximum amount of spending for a thrifty shopper household is approximately 519.06 NIS.