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1 answer:
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Answer:
Probability that their mean is above 215 is 0.0287.
Step-by-step explanation:
We are given that a bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50.
For this, 40 different applicants are randomly selected.
<em>Let X = ratings for credit</em>
So, X ~ N()
Now, the z score probability distribution for sample mean is given by;
Z = ~ N(0,1)
where, = population mean = 200
= standard deviation = 50
= sample mean
n = sample of applicants = 40
So, probability that their mean is above 215 is given by = P( > 215)
P( > 215) = P(
>
) = P(Z > 1.897) = 1 - P(Z
1.897)
= 1 - 0.97108 = 0.0287
Therefore, probability that their mean is above 215 is 0.0287.
If the series is made up of numbers in an arithmetic progression, you have
where
is the first term and 
is the common difference between terms.
Since the last term in the series is
, you have
Solve the system
and you'll find that the first term is
(with 
).
where
Since the last term in the series is
Solve the system
and you'll find that the first term is