The profits of life insurance companies A and B are normally distributed with the same mean. The variance of company B's profit
1 answer:
Answer:
23.58-th
Step-by-step explanation:
The standard deviation of company B's profit is:
Let X be the profit correspondent to the 14th percentile of company A's profit.
The z-score for 14th percentile of a normal distribution is roughly -1.08.
The z-scores for X in companies A and B are:
The z-score for X in company B's profit distribution is -0.72, which corresponds to the 23.58-th percentile.
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