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Problem: b) http://cl.ly/image/3a3l3142432M

Attempt: I find the cost to be 458 000 . See calculations in the link and/or my thoughts here:

Let cost be c.

F_Z(\frac{c-500000}{50000})=0.2$ and then I find $z=0.84$ gives $P=0.8

Thus z=-0.84=\frac{c-500000}{50000}$

Am I right? I've got no solutions-manuel.

1 Answers 1

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\$457,918.90, or \$458,000 to three decimal places. Well done.