Answer:
1. A: 0.25; B: 0.03; C: 1.41; D: -0.28
2. A: 0.39; B: 0.06; C: 40.30; D: 21.81
Step-by-step explanation:
For CDF lookups, we used the Excel NORMDIST(x, mean, stdev, TRUE) function. For inverse CDF lookups, we used the NORMINV(x, mean, stdev) function.
Each of these functions works with the area under the curve from -∞ to x, so for cases where we're interested in the upper tail, we subtract the probability from 1, or subtract the x value from twice the mean.
For question 1, we computed the Z values in each case. The NORMDIST function works directly with x, mean, and standard deviation, so does not need the z value.
The answer would be $11.8 then just round that up to the nearest whole number which would be $12. Hope this helped if I’m incorrect I apologize:/but I’m pretty sure that’s right!
Answer:
Work shown below!
Step-by-step explanation:
The first expression goes into m - 1
the second expression is m - 2 / m
and the last expression goes m - 2 / m - 1