Melinda Randolph bought 1,500 shares of Huge Corporation stock for $155,250. She sold the stock for $101 per share and paid a sa
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Answer:
The actual SAT-M score marking the 98th percentile is 735.
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:
Find the actual SAT-M score marking the 98th percentile
This is X when Z has a pvalue of 0.98. So it is X when Z = 2.054. So