Question

The distribution of grades in an introductory finance class is normally distributed, with an expected grade of 65. If the standard deviation of grades is 14, in what range would you expect 90.00 percent of the grades to fall? (Round answers to 2 decimal places, e.g. 15.25. Hint: Think in terms of what the expected highest and lowest scores would be for 90.00% of the students taking the exam.)

Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you’ve been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.)

90.00 percent of the grades should fall beween the ranges (lower end) _____end of the range and (upper end) _______.

Answer 1

90.00 percent of the grades should fall beween the ranges (lower end) -1.645 and of the range and (upper end) 1.645

Explanation- Since it is a 2 tailed test ( has a upper and lower tail) the tails will have 10% /2 = 5% = 0.05

Find the value for 0.05 in the table you will get 1.645