Solved: Suppose the annual employer 401k cost per participant is, Basic Statistics

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Suppose the annual employer 401k cost per participant is

Question: Suppose the annual employer 401(k) cost per participant is normally distributed with a standard deviation of $625, but the mean is unknown.

a. If 73.89% of such costs are greater than $1,700, what is the mean annual employer 401(k) cost per participant?

b. Suppose the mean annual employer 401(k) cost per participant is $2,258 and the standard deviation is $625. If such costs are normally distributed, 31.56% of the costs are greater than what value?

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Basic Statistics: Suppose the annual employer 401k cost per participant is

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