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NISA [10]
3 years ago
13

Given a random variable X having a normal distribution with μ = 60 and σ = 9, find the value of x that has 74% of the normal cur

ve area to the left. Round your z-score and your final answer to 2 decimals.

Business
1 answer:
anygoal [31]3 years ago
8 0

P (Z<1.56)= 0.94

<u>Explanation:</u>

Step 1: Sketch the curve.

The probability that X<74 is equal to the blue area under the curve.

Step 2:

Since μ=60 and σ=9 we have:

P ( X<74 )=P ( X−μ<74−60 )=P (X−μ/σ<74−60/9)

Since x−μ/σ=Z and 74−60/9=1.56 we have:

P (X<74)=P (Z<1.56)

Step 3: <u>Using the standard normal table to conclude that: </u>

P (Z<1.56)=0.9406 , rounding off to 2 decimals we get P (Z<1.56)= 0.94

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Generally, a deficit on the current account is because the value of goods and services exported is lower than the value of goods and services being imported in a particular country.

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The economic term for the want-satisfying ability, or value, that organizations add to goods or services is
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The economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.

<h3>What is utility?</h3>

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The marketing concept focuses on the needs that the customers have to be able to offer what they would be willing to buy. On the other side, the production orientation is when a company focuses on the manufacturing process and would create products in which it is good at producing. According to this, the answer is that the marketing concept implies that the manufacturer will make only what it knows people will buy; a production orientation implies that the manufacturer will try to sell whatever it decides to make.

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Entrepreneurship may be defined as the setting up of a business or a work looking out for making profit dealing with the risks and the challenges on its own.

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