Question on normal distribution and z-score

Reference no: EM1392039

1. The amounts of money requested on home loan applications at a particular bank follow the normal distribution, with a mean of $80,000 and a standard deviation of $24,000. A loan application is received during the day.

By hand:

a. Find the probability that the amount requested amount is $90,000 or more?

b. Find the probability that the amount requested is between $75,000 and $90,000?

c. How much is requested on the largest three percent of loans?

d. How much is requested on the smallest ten percent of the loans?

Reference no: EM1392039

Questions Cloud

Determine sampling distribution of sample mean : A normal population has a mean of 75 and a standard deviation of 5. You select a sample of 40. Compute the probability the sample mean is

Kk-3 system coding in grope technology : how to write code for any particle shape using KK-3 system coding in grope technology

Determining probability for normal distribution : According to an IRS study, it takes a mean of 330 minutes for taxpayers to prepare, copy and electronically file a 1040 tax form. This distribution of times follows the normal distribution and the standard deviation is 80 minutes.

Assuming the basic fixed-order quantity inventory model : Assuming the basic fixed-order quantity inventory model fits this situation and no safety stock is needed, which of the following is the reorder point (R)?

Question on normal distribution and z-score : The amounts of money requested on home loan applications at a particular bank follow the normal distribution, with a mean of $80,000 and a standard deviation of $24,000. A loan application is received during the day.

Forecast the rental and leasing revenue : Shown below are rental and leasing revenue ?gures for of?ce machinery and equipment in the United States over a seven-year period according to the U.S. Census Bureau. Use these data to run a linear regression and then forecast the rental and leasi..

Calculate in polar form the sequence components : Calculate in polar form the sequence components of unbalanced lineto-neutral voltages and calculate in polar form the phase currents corresponding to the sequence components

Paragraph about the normal distribution : Write down a paragraph about the normal distribution. In the paragraph give an example of a distribution that you would judge to be nearly normal and explain why you have made that conclusion.

Energy storage molecule : Determine what kind of energy storage molecule would you most likely find in the highest quantity in the seed of a plant? please explain why it would be this type of molecule in one sentence.

User Account

All Pages