SOLUTION: A loan officer at a bank rates applicants for credit. Ratings are normally distributed. The mean is 240 and the standard deviation is 50. Find the probability that an applicant wil
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Question 479672: A loan officer at a bank rates applicants for credit. Ratings are normally distributed. The mean is 240 and the standard deviation is 50. Find the probability that an applicant will have a rating less than 300 Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A loan officer at a bank rates applicants for credit. Ratings are normally distributed. The mean is 240 and the standard deviation is 50. Find the probability that an applicant will have a rating less than 300
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Find the z-value of 300:
z(300) = (300-240)/50 = -6/5
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P(x< 300) = P(z< -6/5) = normalcdf(-100,-6/5) = 0.1151
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Cheers,
Stan H.
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