A banks loan officer writes applications for credit the ratings are normally distributed with a mean of 200 and a standard devia
tion of 50 fine P 60 the score which separates the lower 60% from the top 40% round to 1 Decimal Pl.
1 answer:
Answer:
212.7
Step-by-step explanation:
Calculation to Find P60 the score which separates the lower 60% from the top 40%
First step is to find z of 60% using the invNorm distribution
Hence,
z=0.6=0.2533
Now let Find P60 which is the score which separates the lower 60% from the top 40% using this formula
x<=>z
Where,
Standard deviation=50
Mean=200
z=0.2533
Let plug in the formula
x=0.2533*50+200
x=12.665+200
x=212.665
x=212.7(Approximately)
Therefore the score which separates the lower 60% from the top 40% is 212.7
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