SOLUTION: consider that the historical return of an investment follows a normal distribution with a mean of 2000 dollars and a standard deviation of 300 dollars. what is the upper limit for

Question 1100875: consider that the historical return of an investment follows a normal distribution with a mean of 2000 dollars and a standard deviation of 300 dollars. what is the upper limit for which 60% of all investment return values are located given that the lower limit is at 1450 dollars?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
consider that the historical return of an investment follows a normal distribution with a mean of 2000 dollars and a standard deviation of 300 dollars. what is the upper limit for which 60% of all investment return values are located given that the lower limit is at 1450 dollars?
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z(1450) = (1450-2000)/300) = -1.8333
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Find the area to the left of z = -1.8333
normalcdf(-100,-1.8333) = 0.0333
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Add 0.6 to get area to upper limit = 0.6333
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Find the z-value with a left tail of 0.6333
invNorm(0.6333) = 0.341
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Find the corresponding dollar value
x = 0.341*300+2000 = $2102.24
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Cheers,
Stan H.
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