Solution-Calculate zscores for the four amounts

Calculate zscores for the four amounts

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Reference no: EM132464722

The annual profits of small business owners in the town of Brownville has a normal distribution with a mean of $60,000 and standard deviation $5000.

a. Calculate Zscores for the following four amounts: $50,000, $55,000, $65,000, and $70,000. Considering the given profit ~N (60000,5000^2). X is going to be the annual profit and Z is going to be the "Z scores" for

b. What proportion of the distribution falls below $50,000?

c. What proportion of the distribution falls between $55,000 and $50,000?

d. What proportion of the distribution falls between $60,000 and $65,000?

e. What proportion of the distribution falls above $65,000?

f. What is the probability that a randomly selected business owner in this distribution has a profit between $50,000 and $70,000?

Reference no: EM132464722

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Calculate zscores for the four amounts

Reference no: EM132464722

Reference no: EM132464722

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