SOLUTION: In the first quarter of 2019, the average home loan for first time buyers was R950, 000. Assuming a normal distribution and a standard deviation of R70, 000. What proportion of hom

Algebra ->  Probability-and-statistics -> SOLUTION: In the first quarter of 2019, the average home loan for first time buyers was R950, 000. Assuming a normal distribution and a standard deviation of R70, 000. What proportion of hom      Log On


   

Question 1165279: In the first quarter of 2019, the average home loan for first time buyers was R950, 000. Assuming a normal distribution and a standard deviation of R70, 000. What proportion of home loans were between R899, 000 and R999, 000 (rounded off to three decimals)
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
z=(x-mean)/sd
=-51000/70000 and also 49000/70000
this is between z of -0.729 and z of +0.7
that probability is 0.525 or 52.5%