Question

"Prices of shoes in a department store are distributed normally. The distance (d) of the price (p) of each pair of shoes from the mean price of $74 was computed as follows:

[d = |p - 74|]
If d is greater than 20 for approximately 32% of the pairs of shoes in the store, what is the approximate standard deviation of the shoe prices?"

Answer 1

The approximate standard deviation of the shoe prices in the department store is 20.

Step-by-step explanation:

To find the approximate standard deviation of the shoe prices in the department store, we need to use the given information that d is greater than 20 for approximately 32% of the pairs of shoes.

Since d represents the distance of the price of each pair of shoes from the mean price of $74, we can say that d is a measure of how much the price of a pair of shoes deviates from the mean price.

Based on the given information, we can assume that d represents the standard deviation of the shoe prices. Therefore, the approximate standard deviation of the shoe prices is 20.