A finance company offers a 36-month installment loan with an APR of 10.5%. Jerry wishes to use the loan to finance an engagement
1 answer:
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Answer:
15.87% probability that a randomly selected individual will be between 185 and 190 pounds
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
What is the probability that a randomly selected individual will be between 185 and 190 pounds?
This probability is the pvalue of Z when X = 190 subtracted by the pvalue of Z when X = 185. So
X = 190
has a pvalue of 0.8944
X = 185
has a pvalue of 0.7357
0.8944 - 0.7357 = 0.1587
15.87% probability that a randomly selected individual will be between 185 and 190 pounds