Jimmy invests $4,000 in an account that pays 5% annual interest, compounded semiannually. What is his balance, to the nearest ce
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The 25th percentile corresponds to z ≈ -0.67.
The 90th percentile corresponds to z ≈ 1.28.
So, you can write two equations in μ and σ as here:
.. μ -0.67σ = 10
.. μ +1.28σ = 20
The solution is
.. μ ≈ 13.45
.. σ ≈ 5.11
The 90th percentile corresponds to z ≈ 1.28.
So, you can write two equations in μ and σ as here:
.. μ -0.67σ = 10
.. μ +1.28σ = 20
The solution is
.. μ ≈ 13.45
.. σ ≈ 5.11